JOHANNESBURG (Reuters) -The South African rand was flat on Friday after a volatile week fuelled by fears of a global banking crisis and the implications for monetary policy.
At 1625 GMT, the rand traded at 18.4225 versus the dollar, 0.1% stronger than its closing level on Thursday.
Investor sentiment remained fragile after turbulence sparked by the failure of Silicon Valley Bank and concerns over Credit Suisse despite a $54 billion lifeline for the bank.
The Johannesburg Stock Market closed lower, with the blue-chip Top-40 index falling 0.66% and its broader all-share index sliding 0.52%.
Economic data released by Statistics South Africa this week highlighted an economy struggling at the start of 2023, weighed down by crippling power cuts.
Statistics South Africa will publish February inflation figures next week, which will give more clues about the health of Africa’s most industrialised economy.
The government’s benchmark 2030 bond was stronger, with the yield down 6.5 basis points at 10.035%.
(Reporting by Alexander Winning and Tannur Anders; Editing by Eileen Soreng, Anait Miridzhanian)
