South African rand holds near early-March highs near 16.2/USD
The South African rand traded around 16.2 per USD, near its highest since early March, as a subdued dollar and firmer gold coincided with inflation moderating to 4.3% in July.
The South African rand traded around 16.2 per USD, holding near its highest since early March, supported by a subdued dollar and rising prices of gold.
Meanwhile, the latest domestic inflation figures signaled a moderation in price pressures.
South Africa's annual inflation rate decelerated to 4.3% in July from a two-year high of 5% in June, below the expected 4.5%.
However, the core measure quickened for the fifth month to 4.2%, the highest since July 2024, up from 4.1% in June.