While waiting for data on inflation and retail sales, the South African currency remained unchanged on Wednesday, March 20, 2024.

The South African Rand has remained stable as investors await inflation and retail sales data that could provide clues to the health of the local economy. At 0452 GMT, the rand traded at 18.9225 against the dollar, 0.07%

Interviewed by Reuters, economists predicted that annual inflation will rise to 5.5% from 5.3% in January. The rand is likely to take its bearings from February's inflation and January retail sales figures, expected on Wednesday. They also expect retail sales to increase by 1.5% year over year.

Later today, investors will see the results of the latest Federal Reserve monetary policy meeting.