The South African rand was strong against the dollar, rebounding from a three-month low after South Africa released its CPI inflation report and the South African Reserve Bank (SARB) was due to announce its policy decisions on Wednesday and Thursday, respectively.。

The SARB is expected to keep its benchmark interest rate at 8 at its January meeting..The 25% level。

SARB President Lesetja Kganyago said inflation needs to continue to fall to about 4.5%, the central bank will consider cutting interest rates。

Rand dealers will be keeping a close eye on CPI inflation data, which will be released a day before the SARB's rate decision.。

South Africa's annual headline inflation likely to slow further to 5 in December, according to market consensus.2%, compared to 5 in November.5%。If true, inflation will remain within the SARB's target range of 3% to 6% for the seventh consecutive month.。

USD / ZAR down 0 as of 8: 02 GMT on Wednesday.69%, reported 18.8972。Earlier this week, the exotic pair had risen as high as 19.2165, as of October 26, 2023 (19.2710) the highest level since。