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Johannesburg - The rand remained on the back foot against the US dollar on Wednesday, still spooked by data showing yawning trade and budget deficits.
South Africa's nagging twin deficits on the current account and the budget have earned the rand a spot among emerging market currencies most vulnerable whenever investors' appetite for risk wanes.
READ: Current account deficit shock
At 08:51 the rand traded at R11.2900 to the dollar, not far off Tuesday's New York close of R11.2850.
Government bonds were also flat, and the yield for the 2026 instrument which the secondary market uses as a benchmark was quoted unchanged at 8.34%.
READ: Trade deficit soars in August
The rand had tumbled to a new 8-month low of R11.3490 to the dollar on Tuesday after the state revenue agency said South Africa's trade account recorded a R16.3bn shortfall in August, its biggest gap in seven months.
Separate data from the National Treasury showed the budget deficit in the first five months of the 2014 to 2015 financial year was R111.847bn, up sharply from a R92.298bn gap over the same period the previous year.
South Africa's nagging twin deficits on the current account and the budget have earned the rand a spot among emerging market currencies most vulnerable whenever investors' appetite for risk wanes.
READ: Current account deficit shock
At 08:51 the rand traded at R11.2900 to the dollar, not far off Tuesday's New York close of R11.2850.
Government bonds were also flat, and the yield for the 2026 instrument which the secondary market uses as a benchmark was quoted unchanged at 8.34%.
READ: Trade deficit soars in August
The rand had tumbled to a new 8-month low of R11.3490 to the dollar on Tuesday after the state revenue agency said South Africa's trade account recorded a R16.3bn shortfall in August, its biggest gap in seven months.
Separate data from the National Treasury showed the budget deficit in the first five months of the 2014 to 2015 financial year was R111.847bn, up sharply from a R92.298bn gap over the same period the previous year.
