South Africa’s rand remained stable against the dollar on Wednesday, trading at R18.20 as the U.S. dollar weakened following the release of U.S. inflation data.
The dollar index fell by 0.7% after the U.S. personal consumption expenditures price index rose by 0.2% in October, consistent with September’s increase. Market volatility this week stemmed from concerns over potential trade tariffs under U.S. President-elect Donald Trump.
South African investors are focused on upcoming domestic data, including monthly producer inflation on Thursday and reports on money supply, trade, and the budget balance on Friday.
On the stock market, the Top-40 index closed down 0.4%. Meanwhile, South Africa’s 2030 government bond saw positive movement, with the yield dropping 2.5 basis points to 9.03%.
