Rand Declines First Week in Four on Growth Concern, Commodities
This article is for subscribers only.
The rand declined for the first weekly retreat in four on concern slowing growth will damp demand for South Africa’s assets and as commodity prices fell.
The currency slipped as much as 0.5 percent, and traded 0.3 percent weaker at 8.6652 per dollar as of 3:24 p.m. in Johannesburg. The rand has retreated 0.3 percent this week, paring a 1.6 percent advance in the preceding three weeks. Yields on benchmark 6.75 percent bonds due March 2021 were unchanged at 6.67 percent today, for a decline of three basis points this week.