South Africa slams Trump's G20 ban
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The South African rand softened in early trade on Friday with investors eyeing the release of monthly economic data from the central bank, revenue service agency and National Treasury. At 0708 GMT, the rand traded at 17.
According to data from the statistics agency, South Africa’s producer inflation increased to 2.9% year-on-year in October, up from 2.3% in September. Additionally, producer inflation for meat and meat products rose from 17.2% to 17.4% in October, largely due to the ongoing impact of foot-and-mouth disease.
The White House has hit out at South Africa’s leader for "running his mouth" over the United States’ boycott of this weekend’s Group of 20 summit in Johannesburg.
The rand weakened slightly against the dollar on Thursday after data showed South Africa's producer price inflation accelerated in October, though moves in the currency market were muted due to the U.
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