Market News
South African rand strengthens after producer inflation data - REUTERS
JOHANNESBURG, April 25 (Reuters) - The South African rand rose on Thursday, after monthly domestic producer inflation came in as expected.
At 1550 GMT, the rand traded at 19.0400 against the dollar , nearly 0.9% stronger than its previous close.
The dollar was last trading down 0.11% against a basket of other major currencies.
Statistics South Africa data showed producer inflation rose slightly to 4.6% year on year in March from 4.5% in February, in line with the expectations of analysts polled by Reuters.
The central bank said this week that bringing consumer inflation back to the midpoint of its target range was likely to be a "bumpy and protracted" journey.
