Aug 16

South African rand inches up before retail sales data

The South African rand inched up in early trade on Wednesday, reversing some of the previous day’s losses, before the release of retail sales data. Just this morning, the rand traded at 19.1125 against the dollar , about 0.1% stronger than its previous close. According to Reuters, Statistics South Africa will publish June retail sales figures this morning with analysts polled by Reuters expecting a decline of 0.2% year on year.