# South African rand edges higher ahead of trade data - Markets - Business Recorder

> The rand edged higher in early trade on July 31 at 17.58 per dollar after a strong July, with gains of over 6% for the month. Investors were awaiting South Africa's June trade data, where analysts expected a surplus of 11.85 billion rand. The SARB reported M3 money supply growth of 11.15%, above forecasts.

- Date: 2023-07-31 · published 2023-07-31T12:00:00.000Z
- Category: market · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/35346-south-african-rand-edges-higher-ahead-of-trade-data-markets-business-recorder
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Routine currency moves with a strong trade surplus or money supply data would support the rand and lower dollar-denominated import costs; the effect on feed prices is small.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- brecorder.com: https://www.brecorder.com/news/40255448

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.