South Africa's rand weakens; focus on credit ratings reviews

South African rand notes in a file photo. REUTERS/Siphiwe Sibeko·Reuters· (Reuters)

JOHANNESBURG (Reuters) - South Africa's rand weakened against the dollar early on Monday, giving up gains from the previous session, with investors nervous ahead of an interest rates decision and credit ratings reviews due later in the week. At 0645 GMT, the rand traded at 14.0350 per dollar, 0.45 percent weaker than its close on Friday. The rand had raced to a two-week high against the dollar on Friday as the greenback came under pressure. The South African Reserve Bank will announce its last interest rates decision for the year on Thursday, with economists polled by Reuters expecting rates to stay at 6.75 percent. Ratings agencies S&P Global and Moody's are due to publish their reviews on Friday. Stocks are set to open lower at 0700 GMT, with the JSE securities exchange's Top-40 futures index down 0.13 percent. In fixed income, the yield for the benchmark government bond due in 2026 rose 2.5 basis points to 9.365 percent. (Reporting by Olivia Kumwenda-Mtambo; Editing by Gopakumar Warrier)

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