The rand held steady against the euro at R19.63 and against the British pound at R22.70. The USD/ZAR ratio increased toward R17 due to a stronger US dollar.

Inflation pressures are expected to rise in April because of fuel price hikes. Retail sales growth slowed significantly to 1.6% year-on-year in February, indicating potential economic challenges ahead.

The South African Reserve Bank left interest rates at 6.75% in March, aiming to manage inflation while supporting economic stability. This decision reflects ongoing concerns about external economic pressures.

Key statistics:

• The rand weakened to R16.80 against the US dollar.
• Retail sales growth was reported at 1.6% year-on-year.
• International reserves held by the Bank of Namibia rose to N$51.8 billion at the end of March.

The rand remains susceptible to external pressures, particularly from energy markets and global sentiment shifts. Observers note that continued geopolitical tensions could further impact the rand’s performance.

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