South African government bonds strengthened along with the rand on Thursday morning, with the local currency reaching levels last seen in mid-2015. By 11.46am, the benchmark R186 bond was 7.5 basis points stronger. It was bid at 8.53%, from a previous close of 8.605%. The rand was 0.9% stronger versus the dollar at R12.25, after briefly touching a low of R12.23 earlier in the day. The Star reported that President Jacob Zuma had been given until next Wednesday to step down as SA’s president. Several ANC national executive committee members said Zuma faced another motion of no confidence if he did not voluntarily leave his position, the publication reported. The rand has firmed from about R13.50 to the dollar prior to the ANC’s elective conference, which began on December 16 and during which Ramaphosa was named head of the governing party. The local unit was last seen 0.8% stronger compared with the euro and the pound, at R14.74 to the euro and R16.58 to the pound.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.