Johannesburg - The rand fell more than 1.0% to its weakest level in over two months against the dollar on Monday on global risk aversion exacerbated by the US credit downgrade.
The rand was trading at R6.9973/$ in afternoon trade, coming back from the session’s low of R7.0105/$. It closed at R6.9175/$ in New York on Friday.
Government bonds however reversed their losses with the yield on the 2015 down one basis point to 7.145%, after earlier gaining 4.5 basis points.
The rand was trading at R6.9973/$ in afternoon trade, coming back from the session’s low of R7.0105/$. It closed at R6.9175/$ in New York on Friday.
Government bonds however reversed their losses with the yield on the 2015 down one basis point to 7.145%, after earlier gaining 4.5 basis points.