Taiwan foreign minister attends Eswatini royal birthday party
South African rand weakens ahead of inflation data, c.bank rate decision
9:20 CAT | 19 Sep 2023
File photo: 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 ZAR=D3, more than 0.1% weaker from Monday.
The dollar =USD 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 ZAR2030= was marginally weaker in early deals, with the yield up 0.5 basis point to 10.515%.
Source: Reuters
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