JOHANNESBURG: South Africa’s rand was flat early on Wednesday as investors awaited inflation and retail sales data that could provide clues on the health of the local economy.
At 0452 GMT, the rand traded at 18.9225 against the dollar, 0.07% weaker than its previous close.
The rand is likely to take its cues from February inflation figures and January retail sales data due on Wednesday.
Economists polled by Reuters have predicted that annual inflation will inch up to 5.5% from 5.3% in January.
They also expect retail sales to rise 1.5% year-on-year.
South African rand weakens ahead of Fed policy decision
Investors will be looking at the outcome of the US Federal Reserve’s latest policy meeting later in the day.
South Africa’s benchmark 2030 government bond was unchanged in early deals, with the yield at 10.480%.
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