The rand firmed in early trade on Wednesday, ahead of a monthly inflation report that is expected to direct the central bank’s interest rate decision later this week.
At 0647 GMT, the rand traded at R18.99 against the dollar.
The dollar was last down about 0.09% against a basket of global currencies.
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Statistics South Africa will release consumer inflation figures for December at 0800 GMT. Economists polled by Reuters expect year-on-year inflation to fall to 5.2% from 5.5% in November.
The South African Reserve Bank (Sarb) will hold its first monetary policy committee meeting of the year on Thursday.
Sarb governor Lesetja Kganyago has said he wants to see inflation decline sustainably to around 4.5% before considering rate cuts. Consumer inflation is expected to average 5% in 2024.
South Africa’s benchmark 2030 government bond was marginally stronger in early deals, with the yield down 1 basis point at 9.752%.
