REUTERS
South Africa’s rand firmed against a weaker dollar early on Tuesday, recovering from the lows it touched in the previous session. At 0624 GMT, the rand traded at 19.1025 against the dollar , 0.5% stronger than its previous close.
On Monday, the currency sank to its lowest in more than three months.The dollar was last down about 0.2% against a basket of global currencies.
“The rand remains a passenger along for the ride and will likely take its direction from developments in the dollar,” ETM Analytics said in a note.
This week, investors will focus on consumer and producer price inflation figures for December, which will be released ahead of the South African Reserve Bank’s (SARB) rate decision.South Africa’s benchmark…