Rand steady as investors focus on next week’s inflation data, rate decision - Channel Africa

The South African (SA) Rand was steady in early trade on Friday, supported by softer oil prices and firmer commodity prices, as ‌local investors turned their attention to upcoming inflation data and the Central bank’s interest rate decision. The Rand traded at 16.7550 against the Dollar , little changed from its previous close of 16.7676. Oil ⁠prices inched down on Friday and were headed for a second weekly decline as a continued United States blockade of Iran eased fears of renewed fighting in the Middle East, though shipping attacks remained a supply risk As a net importer of fuel, SA is highly exposed to global oil price movements SA’s key exports, gold and ‌platinum , ⁠climbed more than 1% on Friday, with platinum on track for modest weekly...