Rand Gains Ahead of South African Inflation and Retail Data

The South Africa rand strengthened in early trading on Wednesday as market participants looked ahead to the release of domestic inflation and retail sales data. The US Dollar / South African Rand exchange rate was recorded at 16.6250, representing a 0.3% gain over its previous close.

Investors are primarily focused on February consumer inflation data and January retail sales figures. A Reuters poll of economists suggests that annual inflation will likely ease to 3.1% for February, down from the 3.5% reported in January.