Rand softer ahead of 2015 budget

Johannesburg - The rand was under pressure against the dollar on Monday as investors' risk appetite remained tentative across the globe despite a rescue deal for debt-ridden Greece.

Traders and analysts predicted a potentially volatile week for the rand, with the release of domestic GDP and trade data as well as Finance Minister Nhlanhla Nene's budget speech on Wednesday.

For more insight and analysis on Budget 2015 follow: http://www.fin24.com/Budget

At 08:55 the local unit was trading 0.31% softer at R11.6480 to the dollar after ending Friday's session at R11.6120.

In fixed income, the yield on the benchmark government bond maturing in 2026 was flat at 7.655%.

The market was eager to see how Nene proposes to boost revenue, given anaemic economic growth, traders and analysts said.