JOHANNESBURG, Aug 28 (Reuters) – The South African rand weakened on Wednesday ahead of economic data releases towards the end of the week.
The rand was at 17.7925 against the dollar by 1533 GMT, about 0.44% weaker than its previous close.
The dollar index showing its performance against a basket of currencies was last up about 0.36%.
South African investors are awaiting July producer inflation data on Thursday and money supply, trade and budget balance figures on Friday for the latest indications on the health of the domestic economy.
Global market focus this week will be on a preliminary estimate for U.S. gross domestic product in the second quarter and the core personal consumption expenditures (PCE) index, the U.S. Federal Reserve’s preferred inflation measure.
The rand, like most emerging market currencies, tends to track international moves as well as local economic events.
South Africa’s benchmark 2030 government bond was weaker, with the yield up 2.5 basis points at 9.14%.
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Reporting by Bhargav Acharya and Tannur Anders; Editing by David Goodman and Jan Harvey
Our Standards: The Thomson Reuters Trust Principles.
