Rand Weakens 0.4 Percent Before Key Economic Reports
The rand fell to 16.8975 against the dollar as markets awaited credit and trade data. Analysts expect a narrowing surplus due to supply chain disruptions.
South Africa's rand fell 0.4% to 16.8975 against the USD/ZAR during early morning trading on Thursday. The decline precedes a heavy slate of fiscal and monetary data releases from the central bank and National Treasury. These figures will clarify how Middle East supply chain disruptions and energy costs are impacting Africa's largest economy.
### Credit Growth Expected to Cool INVESTEC PLC economist Lara Hodes expects private-sector credit growth to slow to 9.6% y/y for March. This follows a 10.5% y/y increase in February, which was supported by corporate borrowing and a favorable interest rate environment.
