Rand Holds Firm Ahead of Fed Rate Decision

The South African rand has stabilized near 16.7050 per US dollar as investors await the Federal Reserve's interest rate decision.

Markets are closely watching the Fed's move, with many expecting it to hold rates steady, but some still predicting a quarter-point hike.

This uncertainty is keeping the USD/ZAR exchange rate relatively calm, despite mixed signals from local data, including slower money supply and private-sector credit growth in South Africa.