Against the US dollar, the South African rand climbed to 7.3679 during Wednesday's early session. The rand may likely find resistance near the 7.293 level, if it climbs further. At yesterday's New York session close, the pair was quoted at 7.4317.

Demand for credit by South African private sector rose 2.34% year-on-year in August, slower than the 3.31% increase in July, the Reserve Bank said today. Economists had forecast 2.89% growth.

M3 money supply in August rose 5.49%, slightly slower than the 5.70% rise in July. It was expected to increase 6%.

US Dollar vs ZAR (FX:USDZAR)
Forex Chart
From Jun 2024 to Jul 2024 Click Here for more US Dollar vs ZAR Charts.
US Dollar vs ZAR (FX:USDZAR)
Forex Chart
From Jul 2023 to Jul 2024 Click Here for more US Dollar vs ZAR Charts.