South African rand subdued ahead of key economic releases this week

Business Recorder reported that the South African rand was little changed early on Monday, with traders waiting for a series of local economic figures due this week. The currency traded at 15.9675 to the dollar at 0655 GMT, close to its prior close, while markets largely looked past new reserves data.

South Africa's net foreign reserves climbed to $73.69 billion at the close of August, up from $71.76 billion in July, according to central bank figures released Monday. The next focus is second-quarter GDP data on Tuesday, followed by current account, mining and manufacturing numbers on Thursday.

Globally, the dollar stayed level against a group of currencies even as expectations of further US rate increases grew. Middle East tensions were seen raising inflation risks that could push central banks worldwide to tighten policy together, while South Africa's 2035 government bond yield edged up 1 basis point to 8.53%.