The rand reached a seven-month low on Friday as investors assessed US producer inflation data and prepared for the upcoming local inflation report and the central bank’s interest rate decision. The rand was trading at 16.9750 against the dollar, which is approximately 1.2% lower than its previous close. This decline brings it close to the 17-per-dollar mark, its weakest level since April. US producer prices saw an increase in October, reflecting the largest annual growth in four years and reinforcing expectations that the Federal Reserve may continue to raise interest rates after next month’s widely anticipated hike. Like other risk-sensitive currencies, the rand is often influenced by global factors, including US economic data and monetary policy.
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