The rand backed off after an increase that had brought it to its highest level in more than two years, the investors who cashed in their profits on Friday and are waiting cautiously the planned revision by S&P Global of Africa's sovereign rating South.

At 08:24 GMT, the rand traded at 17.1250 against the dollar, about 0.4% less than at the Closing on Thursday.

South Africa was downgraded to “speculative” for the first time in 2017, following the dismissal of the respected finance minister, Pravin Gordhan, by the former President Jacob Zuma and the political instability that ensued.

The economic calendar Next week will include the inflation figures at the October consumption and September retail sales data, published on Wednesday, followed by the central bank's decision concerning interest rate on Thursday.

At the Stock Exchange of Johannesburg, the Top-40 index was down by 1.6%, thus erasing a part of his recent earnings.

The State obligation of The South African benchmark for 2035 weakened at the start of trading, its efficiency increasing by 6 basis points to reach 8.655%.