Rand weakens ahead of inflation data, Sarb rate decision

The rand edged lower in early trade on Tuesday as markets await local inflation figures and a central bank interest rate decision in the days ahead.

At 08:48 GMT, the rand traded at R19.02 against the dollar.

The dollar last traded around 0.095% stronger against a basket of global currencies.

The rand is likely to take its cues from August inflation data to be released on Wednesday and an interest rate decision by the South African Reserve Bank (Sarb) on Thursday.

Most analysts polled by Reuters expect the Sarb to leave its main interest rate unchanged at 8.25%.

South Africa’s benchmark 2030 government bond was marginally weaker in early deals, with the yield up 0.5 basis point to 10.515%.