South African Bonds Fall, Rand Gains for Third Week on Rates

South African government bonds fell and the rand headed for a third weekly gain after the central bank kept its benchmark interest rate unchanged and platinum and gold prices advanced.

The price of the 13.5 percent government security due September 2015 declined 39 cents to 123.86 rand, the lowest in two weeks, raising the yield by 8 basis points to 7.76 percent at 5:05 p.m. in Johannesburg. The currency of Africa’s biggest economy traded less than 0.1 percent weaker at 7.4421 per dollar from a close of 7.4414 yesterday, after earlier climbing to 7.4021, the strongest intraday level since May 5. The rand has risen 2 percent this week.