adminJohannesburg. — The rand was slightly firmer against major currencies yesterday morning ahead of the release of domestic inflation data. At 8.50am the rand was at 12,0783 against the dollar from a previous close of 12,1213. Against the euro the rand was at 12,9998, from Tuesday’s close of 13,0118 and was at 18,0487 against the British pound, from 18,0935 overnight.
The euro was at $1,0763 against the dollar from $1,0735 previously. Statistics SA will release the consumer price index (CPI) data for March at 10am.
According to a BDlive median consensus forecast from a survey of 13 economists‚ inflation accelerated to 4,1 percent year on year in March from 3,9 percent in February.
Barclays Research said in an early morning note that it expected the rand to come under pressure following the release of the data. — BDLive.
Online Reporter