The rand also reacted little to data showing local inflation fell more than expected in June, to a 20-month low, with traders likely holding off from big bets before an interest rate announcement on Thursday. At 1510 GMT, the rand traded at 17.9500 against the dollar , around 0.4% weaker than its previous close. Anchor Capital is among a minority that expects the South African Reserve Bank (SARB) to raise rates by 25 basis points on Thursday. Data on Wednesday also showed South African retail sales fell 1.4% year-on-year in May after declining by a revised 1.8% in April. South Africa's benchmark 2030 government bond was marginally firmer, as the yield fell 1.5 basis points to 10.310%.

Source: The North Africa Journal July 19, 2023 23:22 UTC