JOHANNESBURG (Reuters) – The South African rand softened early on Wednesday ahead of the release of local inflation figures and an interest rate decision by the U.S. Federal Reserve later in the day.
At 0723 GMT, the rand traded at 18.21 against the dollar, more than 0.4% weaker than its previous close.
Domestic investors will look to the statistics agency at 0800 GMT for the release of South Africa’s February inflation data.
Economists polled by Reuters estimate inflation rose 3.3% year-on-year last month.
Local retail sales figures are due at 1100 GMT.
The Fed is widely expected to keep rates steady later on Wednesday, amid investor worries over an economic slowdown due to President Donald Trump’s tariffs.
On the stock market, the Top-40 index was last trading 0.4% higher.
South Africa’s benchmark 2030 government bond was stronger in early deals, with the yield down 2.5 basis points to 9.10%.
(Reporting by Sfundo Parakozov. Editing by Mark Potter; Editing by Bhargav Acharya)
