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South African rand weakens ahead of manufacturing survey and car sales data
JOHANNESBURG: The South African rand weakened in early trade on Thursday ahead of the release of a local manufacturing purchasing managers’ index (PMI) and vehicle sales data for September. At 0709 GMT the rand traded at 16.4875 against the dollar , down about 0.3% from its previous close. An Absa PMI survey is set to be released at 0900 GMT and will shed light on manufacturing conditions in Africa’s largest economy. South African manufacturing sentiment deteriorated further in August as business activity slumped, signalling a weak start to the second half of the year. Vehicle sales...
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