On Friday, September 23, 2022, the South African rand was little changed in morning trading after a volatile week.

Not far from its previous closing level of 17.6175, the rand was trading at 17.6250 against the dollar at 0625 GMT and was trading near last week's close of 17.6125. Also, it came under pressure after expectations of an aggressive monetary policy count by the U.S. Federal Reserve. A policy that proceeded to raise interest rates by 75 basis points on Wednesday the 21st.

Similarly, the rand regained lost ground on Thursday, September 22 as the South African Reserve Bank also raised rates by 75 basis points. In early trading, the benchmark 2030 South African government bond was a little weaker and the yield rose by a basis point to 10.60%.