JOHANNESBURG (Reuters) -The South African rand rose on Thursday, after month-to-month home producer inflation got here in as anticipated.
At 1550 GMT, the rand traded at 19.0400 in opposition to the greenback, almost 0.9% stronger than its earlier shut.
The greenback was final buying and selling down 0.11% in opposition to a basket of different main currencies.
Statistics South Africa knowledge confirmed producer inflation rose barely to 4.6% 12 months on 12 months in March from 4.5% in February, in step with the expectations of analysts polled by Reuters.
The central financial institution stated this week that bringing shopper inflation again to the midpoint of its goal vary was prone to be a “bumpy and protracted” journey.
The South African Reserve Financial institution has held its predominant rate of interest at 8.25% since Might 2023 to fight worth pressures.
On the inventory market, the High-40 index closed 0.2% decrease whereas the broader all-share index was down 0.25%.
Anglo American (JO:) Platinum fell 9.48% after BHP Group (NYSE:) bid $38.8 billion for its mum or dad Anglo American.