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Rand weakens on budget speech

Johannesburg - The rand weakened against the dollar on Tuesday after the government said it was not thinking about using reserves to manipulate its value, while comments that the Treasury will not issue new debt boosted government bonds.
 
The rand was last at R7.9065/$, after falling to R7.9150/$ from R7.8630 before Finance Minister Pravin Gordhan began his medium-term budget policy statement to parliament. The yield on the 2015 bond fell to 6.67% from 6.71%.
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Rand - Dollar
19.00
-0.5%
Rand - Pound
23.95
-0.3%
Rand - Euro
20.51
-0.2%
Rand - Aus dollar
12.34
+0.1%
Rand - Yen
0.13
-0.5%
Platinum
895.30
-0.2%
Palladium
991.47
-1.0%
Gold
2,196.11
+0.1%
Silver
24.46
-0.8%
Brent Crude
86.09
-0.2%
Top 40
67,818
+0.2%
All Share
74,028
+0.2%
Resource 10
56,225
+1.0%
Industrial 25
103,464
+0.2%
Financial 15
16,455
-0.4%
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