adminJOHANNESBURG. The and was broadly stable at midday yesterday following the release of consumer price index (CPI) data for July. Inflation accelerated as expected to 5 percent in July compared with a year ago from 4,7 percent in June‚ Statistics SA data showed. “Today’s figures were neither dramatic nor surprising, but they continued to steadily pave the way towards higher inflation and a series of rate hikes over the coming months,” Capital Economics economist John Ashbourne said in a note.
At 11.55am the rand was at 12,8769 against the dollar from a previous close of 12,9049. Against the euro the rand was at 14,2128 from a previous close of 14,2292. Against the pound‚ the rand was at 20,1842 from 20,2090.
The euro was at $1,1037 from $1,1026. — BDLive.
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