South African Rand Steady Before Local Inflation Data
The South African rand held steady on Wednesday before April inflation data. Analysts expect consumer prices to rise to 3.9 percent due to higher fuel costs.
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South Africa's rand held steady at 16.68 against the dollar on May 20 ahead of April inflation data. Analysts polled by Reuters expect inflation to accelerate to 3.9% from 3.1% in March. Rising energy costs from the conflict in Iran threaten to strain the nation's status as a net fuel importer.
