Rand, the national currency of South Africa on Tuesday recorded a little change prior to the release of local mining production figures.
The rand was going for 18.90 at 0710 GMT to the dollar compared with 18.91 previously.
The December mining output would be published by Statistics South Africa by 0930 GMT, this is coming after the buoyant 6.8% expansion of the total productivity the November data showed.
ETM Analytics research note said the the December data will show the toughness and character the industry is developing. The research note also stated that the port backlogs, power cuts, etc. are having a major effect on the total output and capacity;
December will provide evidence of whether some resilience is emerging in the industry. South Africa’s myriad crises, such as load-shedding (power cuts), rail logistics and port backlogs, weigh on productivity and throughput,”
ETM Analytics pointed out
The top 40 index was increased by 0.1% at the initial trading market on the Johannesburg Stock Exchange. The government benchmark for 2030 bond has fallen marginally by 2 basis points at 10.025%
