JOHANNESBURG: The South African rand slipped early on Wednesday, ahead of economic data releases towards the end of the week. The rand was at 17.7875 against the dollar by 0744 GMT, 0.4% weaker than its previous close.
The dollar index showing its performance against a basket of currencies, was last up 0.18%.
South African investors are awaiting July producer inflation data on Thursday and money supply, trade and budget balance figures on Friday for the latest indications on the health of the domestic economy.
South African rand slips against the dollar
Global market focus this week will be on a preliminary estimate for US gross domestic product in the second quarter and the core personal consumption expenditures (PCE) index, the US Federal Reserve’s preferred inflation measure.
The rand, like most emerging market currencies, tends to track international moves as well as local economic events. On the stock market, the Top-40 index was down about 0.2%.
South Africa’s benchmark 2030 government bond was marginally weaker in early deals, with the yield up 0.5 basis point at 9.120%.
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