Economy

Rand steady before retail sales data

Date: Jul 16, 2025

The South African (SA)Rand was little changed in early trading on Wednesday, before the release of the country's retail sales data later in the day.

At 08h59 CAT, the Rand traded at 17.89 against the Dollar, about 0.2% stronger than Wednesday's close. Statistics SA will publish May retail sales data at 13h00 CAT, shedding light on consumer spending patterns in one of Africa's biggest economies.

Economists polled by Reuters predict retail sales will rise 4.4% year-on-year in May, after a 5.1% increase in April.

"Retail sales probably remained relatively robust," said Nedbank economists in a research note, though they expect a marginal growth of 2.0%.

"The more subdued inflationary environment, lower interest rates, and easing debt service costs have lifted real wages and discretionary spending," said the note.

SA's benchmark 2035 government bond was slightly weaker in early deals, as the yield rose 1 basis point to 9.87%.

--Reuters--

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