South African rand stable ahead of inflation, retail sales data

JOHANNESBURG: South Africa’s rand was little changed early on Wednesday, ahead of domestic inflation and retail sales data.

At 0606 GMT, the rand traded at 18.5175 against the US dollar, near its previous close of 18.5125.

The monthly consumer price index data due at 0800 GMT and retail sales data two hours later will give South Africa-focussed investors cues on the health of Africa’s most industrialised economy.

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Economists polled by Reuters estimate inflation rose 3.2% in December, while retail sales is estimated to have increased 5.5% in November.

South Africa’s benchmark 2030 government bond was also little changed in early deals, with the yield at 9.086%.