Rand steadies

Mixed denomination rand currency banknotes are arranged for a photograph at a First National Bank (FNB) branch in Johannesburg, South Africa, on Friday, March 15, 2013. A recovery in mining and manufacturing is giving South Africa's rand and bonds a breather amid concern that growth is slowing while inflation accelerates. Photographer: Nadine Hutton/Bloomberg via Getty Images

JOHANNESBURG. — South Africa’s rand steadied against the dollar early yesterday, as investors awaited the latest manufacturing figures for clues on the health of the economy, amid a severe power crunch that has dimmed growth outlook.

The rand traded at 14,1800 per dollar, not far off its previous close of 14,1760.

South Africa’s troubled state power utility Eskom said it would continue to cut power until Friday after losing generating capacity overnight, with emergency reserves insufficient to meet daytime demand.

Eskom has been battling since 2007 to keep the lights on in the continent’s most industrialised economy, enforcing several rounds of extensive power cuts, disrupting supplies to businesses and households across the country. Beyond the power cuts, South African-focused investors will eye December business confidence data at 0930 GMT and November manufacturing data due at 1100 GMT. — Reuters.