The South African rand rose slightly in early trade on Friday as investors focused on the final day of the two-day Group of 20 finance meeting.
South Africa, the first African nation to host the event, hopes to finish the talks with a formal communique.
A communique would show that G20 finance leaders have reached agreement on at least some key issues.
At 0706 GMT, the rand traded at 17.76 against the U.S. dollar, about 0.3% stronger than Thursday’s close.
The meeting of G20 finance ministers and central bank governors continues Friday, with tariffs, debt relief, and climate resilience the main topics discussed so far, as reported by Reuters.
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South Africa’s Treasury Director General Duncan Pieterse said the G20 hopes to issue its first communique under the country’s presidency by the end of the meetings.
Canada’s Francois-Philippe Champagne told Reuters he was cautiously optimistic a final communique would be agreed, but said the G20, a group of major developed and developing countries, must send a clear message.
The G20 last agreed on a communique in July 2024, focusing on resisting protectionism but making no mention of Russia’s invasion of Ukraine.
South Africa’s benchmark 2035 government bond was weaker in early trading, with its yield rising 2 basis points to 9.98%.
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Image Credit: Newscentral Television
