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%.
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%.