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Foreign exchange market: South African rand stable in first trades on Wednesday

19/04/2023
Source : ORISHAS FINANCE
Categories: Economy/Forex

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Ahead of inflation and retail sales figures expected later today, the South African rand stabilized in early trading on Wednesday.

The rand traded at 18,1800 against the dollar at 05:55 GMT, not far from its closing level of 18.1650 on Tuesday. Analysts expect inflation to fall slightly to 6.9% in annual terms from 7.0% in February. At 08:00 GMT, Statistics South Africa (Stats SA) published the Consumer Price Index (CPI) for March.

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