Market News

South African rand weakens ahead of inflation data, c.bank rate decision - REUTERS

SEPTEMBER 19, 2023

JOHANNESBURG, Sept 19 (Reuters) - The South African rand edged lower in early trade on Tuesday as markets await local inflation figures and a central bank interest rate decision in the days ahead.

At 0614 GMT, the rand traded at 19.0275 against the dollar , more than 0.1% weaker from Monday.

The dollar last traded around 0.095% stronger against a basket of global currencies.

The rand is likely to take its cues from August inflation data to be released on Wednesday and an interest rate decision by the South African Reserve Bank (SARB) on Thursday.

Most analysts polled by Reuters expect the SARB to leave its main interest rate unchanged at 8.25%.

South Africa's benchmark 2030 government bond was marginally weaker in early deals, with the yield up 0.5 basis point to 10.515%.

Reporting by Tannur Anders, Editing by Bhargav Acharya and Rashmi Aich


This website uses cookies We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you've provided to them or that they've collected from your use of their services
Real Time Analytics