The South African rand was weaker in early trade on Wednesday as the dollar clawed back some losses on global markets, while local credit extension slowed more than expected.
At 0715 GMT, the rand traded at 18.5525 against the dollar , about 0.5% weaker than its previous close.
Central bank data showed private sector credit grew 5.87% year on year in July, down from 6.25% in June (ZACRED=ECI).
The dollar gained as investors were looking to labour market data for clues on the U.S. Federal Reserve’s interest rate path.
Source: Reuters
