South Africa’s rand gained in early trade on Monday on improved appetite for riskier assets while stock futures pointed to a slightly lower open on the main bourse.
At 0650 GMT, the rand traded at 12.7600 per dollar, 0.43 percent stronger than its Friday close. Last week’s low of 12.79/$ offers support.
Fitch and S&P kept South Africa’s sovereign rating unchanged last week. Moody’s decision expected on Friday.
Stocks were set to open lower at 0700 GMT, with the JSE securities exchange’s Top-40 futures index down 0.22 percent.
In fixed income, the yield for the benchmark government bond due in 2026 was 2 basis points lower to 8.43 percent.