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South African Rand Gains After Inflation Beats Expectations

July 24, 2019 at 18:56 by Vladimir Vyun

100-rand notesThe South African rand gained today after nation’s inflation beat expectations.

South Africa’s annual inflation was at 4.5% in June, the same as in May and above the market consensus of 4.4%. Core inflation was at 4.3%, up from 4.1% in May, which was the lowest rate in more than a year. Monthly inflation was at 0.4%, up from 0.3% in the previous month and matching forecasts.

USD/ZAR edged down from 13.9115 to 13.8908 as of 18:55 GMT today. EUR/ZAR declined from 15.5146 to 15.4697, and its session minimum of 15.4358 was the lowest since February 11.

If you have any questions, comments, or opinions regarding the South African Rand, feel free to post them using the commentary form below.

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