South Africa's rand was mostly flat against the dollar on Wednesday, with potential to strengthen if inflation came in higher than expected at 0800 GMT, backing the case for an interest rate hike later this week.
Rand steady, could edge higher if inflation quickens
Rand at 14.3150 at 0722 GMT, up slightly from its New York close at 14.3300 on Tuesday.
South African rand notes in a file photo. REUTERS/Siphiwe Sibeko
* Rand at 14.3150 at 0722 GMT, up slightly from its New York close at 14.3300 on Tuesday.
* Market focus on June inflation data, with a Reuters poll reaching consensus on a slight quickening to 6.2 percent year-on-year in June from 6.1 percent in May.
* Stocks softer in early trade; blue chip Top-40 index eases 0.4 percent and All-Share is down 0.5 percent.
ADVERTISEMENT
* Government bonds edge higher, and yields on the 2026 benchmark down a basis point to 8.81 percent.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
No need to run when EFCC invites you, Cubana Chief Priest advises Nigerians
Immigration places wanted Yahaya Bello on watchlist, unveils his passport details
Oyo govt justifies demolition of Yoruba Nation agitators’ building
NAFDAC raids popular supermarket in Abuja for selling counterfeit products
Iranian morality police crack down on women who don't wear headscarves
FG sets up committee to compensate landowners affected by Lagos-Calabar road project
Kano Gov remains a bona fide member of our party - NNPP debunks suspension
We need ₦3.2trn to pay electricity subsidy in 2024 - FG
Tinubu's proactive approach to security threats yielding results, Ribadu claims
Pulse Sports
Lionel Messi's son breaks the internet after scoring five goals for Inter Miami
Naija Stars Abroad: Onyedika, Boniface, and Osimhen shine across Europe
Victor Osimhen and Tobi Amusan make list of Forbes’ 30 under 30 Class of 2024
ADVERTISEMENT