Bloomberg the Company & Products

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Rand Resumes Tumble on U.S. Economic Data

June 14 (Bloomberg) -- The rand posted the second-biggest decline among emerging-market currencies as declining U.S. consumer confidence and a lower growth forecast from the International Monetary Fund outweighed progress in South African labor talks.

The South African currency fell 1 percent to 9.9478 per dollar, the most among 24 developing-nation currencies tracked by Bloomberg except Brazil’s real, a day after surging more than 2 percent and ended the week little changed. The currency is down 15 percent this year.

The rand rose earlier in the day after South African mining companies, labor unions and the government agreed on a draft pact outlining how they will restore peace in the industry. The outlook for U.S. economic growth next year worsened as the IMF lowered its prediction to 2.7 percent from the 3 percent forecast in April. The Thomson Reuters/University of Michigan index showed consumer sentiment for June declined to 82.7, below the 84.5 median estimate of 70 economists surveyed by Bloomberg.

Yields on South Africa’s 10.5 percent rand-denominated government debt due December 2026 fell 12 basis points to 7.78 percent, the lowest in more than a week on a closing basis.

To contact the reporter on this story: Jaco Visser in Johannesburg at

To contact the editor responsible for this story: Vernon Wessels at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.