The South African rand was little changed on Thursday despite higher-than-expected producer inflation data.
By 10:45 GMT, the rand traded at 17.6625 to the dollar, close to Wednesday’s closing rate. Statistics showed annual producer inflation rose to 1.5% in July from 0.6% in June, above the 1.4% forecast.
The dollar slipped 0.2% against a basket of currencies as investors awaited key U.S. inflation figures for guidance on the Federal Reserve’s policy outlook.
Locally, traders are eyeing Friday’s releases on money supply, private sector credit, trade balance, and budget data to assess economic health.
On the Johannesburg Stock Exchange, the Top-40 index slipped 0.3%, while the benchmark 2035 government bond firmed slightly, with the yield down 1.5 basis points at 9.58%.
The South African rand, or simply the rand, is the official currency of South Africa. It is subdivided into 100 cents, and a comma separates the rand and cents.