South African Rand Weakens Ahead of Key Census Data Release

The South African rand weakened against the US dollar on Monday morning amid risk aversion in global markets.

The weakening comes ahead of the release of South Africa's 2022 census data on Tuesday, the first in over a decade.

The census data is expected to provide insights into the state of South Africa's economy post-pandemic.

Local investors will look to the data for information on unemployment in South Africa.

The rand often moves based on global factors like US data in the absence of major local data points.