JOHANNESBURG: South Africa’s rand opened stronger on Thursday, ahead of the release of a quarterly bulletin by the central bank and monthly producer inflation figures. At 0603 GMT, the rand traded at 18.23 against the dollar , roughly 0.2% firmer than its previous close.
The dollar was last down about 0.3% against a basket of currencies, reflecting apprehension over US President Donald Trump’s tariffs on automotive imports, set to go into effect after midnight on April 3.
The South African Reserve Bank will publish its quarterly bulletin at 0800 GMT, shedding light on foreign direct investment and portfolio flows in the final three months of last year.
Domestic focus will then shift to February producer inflation figures at 0930 GMT that will provide insights into price pressures in Africa’s most industrialised economy.
South African rand on front foot, US tariff worries remain
Economists polled by Reuters expect producer inflation to come in at 1.3% year-on-year from 1.1% recorded in January.
South Africa’s benchmark 2030 government bond was little changed in early deals, with the yield down 0.5 basis points at 9.105%.
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