South African rand little changed ahead of manufacturing PMI

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South African rand little changed ahead of manufacturing PMI

JOHANNESBURG (Reuters) -  South Africa's rand was little changed early on Wednesday, ahead of a purchasing managers' index (PMI) survey for the domestic manufacturing sector.

At 0651 GMT, the rand traded at 18.70 against the U.S. dollar, near its Tuesday closing level of 18.6975.

The Absa PMI for December is set to be released at 0900 GMT and will shed light on manufacturing conditions in Africa's most industrialised economy.

Local investors also looked to South Africa's net foreign reserves earlier on Wednesday, which fell to $60.371 billion at the end of December from $60.619 billion in November, central bank data showed.

South Africa's benchmark 2030 government bond was unchanged in early deals.

 (Reporting by Tannur Anders; Editing by Bernadette Baum)

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