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    • South African business activity shrinks solidly in January

      • BY Reuters|
      • Middle East/Africa , South Africa |
      • 02:17 AM ET 02/03/2023

      Activity in South Africa's private sector in January contracted a its fastest pace since the end of 2021 as new orders fell due to rolling power cuts and weak economic conditions, a survey showed on Friday. S&P Global's South Africa purchasing managers' index contracted to 48.7 in January from 50.2 in December.

    • South African rand firms ahead of Fed rate decision

      • BY Reuters|
      • Middle East/Africa , South Africa |
      • 11:09 AM ET 02/01/2023

      South Africa's rand strengthened against a weakened dollar on Wednesday as investors awaited the U.S. Federal Reserve's interest rate decision, which could signal the end of its tightening cycle. At 1559 GMT, the rand traded at 17.1775 against the U.S. dollar, 1.22% stronger than its previous close.

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    News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.

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