South African rand strengthens against US dollar ahead of interest rate decision

From TradingView:

The South African rand strengthened against the US dollar ahead of the central bank’s interest rate decision. The rand traded at 18.9100 against the dollar, up 0.5% from its previous close. The dollar was down 0.2% against a basket of currencies, influencing emerging market currencies like the rand.

Investors await the South African Reserve Bank’s rate announcement after February’s inflation reached 5.6%. Expectations lean towards maintaining current rates but with interest in future rate cut projections. The Top-40 index closed nearly unchanged, while the benchmark 2030 government bond remained flat with a yield of 10.475%.



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