Johannesburg - The rand tumbled 2% against the dollar on Monday and government bonds weakened on investor disappointment with a European Union plan that is seen as insufficient to contain the region’s debt crisis.
The rand fell as much as 2% to R8.2470 against the dollar, from Friday’s New York close of R8.0850.
After starting firmer, government bonds followed the rand weaker, with the yield on the 2015 up 4.5 basis points to 6.825% and that on the 2026 note going up by the same margin to 8.55%.
The rand fell as much as 2% to R8.2470 against the dollar, from Friday’s New York close of R8.0850.
After starting firmer, government bonds followed the rand weaker, with the yield on the 2015 up 4.5 basis points to 6.825% and that on the 2026 note going up by the same margin to 8.55%.