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Rand dips before GDP data

Almost two years after taking office, President Cyril Ramaphosa has struggled to get Africa’s most industrialised economy firing on all cylinders.

FILE; Government bonds were flat on Tuesday, with the yield on the benchmark 2026 instrument at 8.46%. Picture: EWN.

JOHANNESBURG - The rand dipped on Tuesday, ahead of gross domestic product (GDP) data that is expected to show dismal third-quarter performance.

At 0630 GMT, the rand traded at 14.5730 versus the dollar, 0.2% weaker than its previous close.

Analysts polled by Reuters have predicted a 0.1% GDP growth in the third quarter in seasonally-adjusted quarter-on-quarter terms, following a 3.1% expansion in the second quarter.

Statistics South Africa will release the data at 0930 GMT.

Almost two years after taking office, President Cyril Ramaphosa has struggled to get Africa’s most industrialised economy firing on all cylinders.

Investment levels and business confidence remain weak.

Government bonds were flat on Tuesday, with the yield on the benchmark 2026 instrument at 8.46%.

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