Junk status fears leave rand reeling
Local bonds also hit as foreigners dump them amid looming fears of downgrade
11 August 2019 - 00:10
A perfect storm hit the rand and local bonds this week as fears grew that SA was heading for full-blown junk status, while the gloves came off in the trade war between the US and China.
The rand, which breached R15.18 to the dollar, hitting an 11-month low, is by far the worst-performing emerging-market currency so far in August, losing almost 5% against the dollar as the foreign sell-off of bonds accelerated...
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.