The South African rand slipped against a stronger U.S. dollar on Wednesday, showing little reaction to the news that Russian President Vladimir Putin will not attend a summit of the BRICS nations next month in Johannesburg.
South African Rand coins are seen in this illustration picture taken October 28, 2020. REUTERS/Mike Hutchings/Illustration/Consumer inflation falls back within targetJOHANNESBURG, July 19 - The South African rand slipped against a stronger U.S. dollar on Wednesday, showing little reaction to thethat Russian President Vladimir Putin will not attend a summit of the BRICS nations next month in Johannesburg.
The announcement that Putin would not be at the summit ended months of speculation about whether South Africa would arrest him because of a warrant issued by the International Criminal Court. The rand also reacted little to data showing local inflation fell more than expected in June, to a 20-month low, with traders likely holding off from big bets before an interest rate announcement on Thursday.
At 1510 GMT, the rand traded at 17.9500 against the dollar , around 0.4% weaker than its previous close. The dollar was up about 0.4% against a basket of currencies.
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