South Africa’s rand slips from 11-week high

Date:

JOHANNESBURG (Reuters) – South Africa’s rand eased against the U.S. dollar in early trade on Thursday, after a strong rally in the previous session that was fuelled by hopes of a global economic rebound.

Thank you for reading this post, don't forget to subscribe!

At 0642 GMT, the rand traded at 17.0200 per dollar, 0.49% weaker than its close on Wednesday, when it climbed to an 11-week peak of 16.8900.

Governments around the world have gradually started to lift tough lockdown measures imposed to contain the coronavirus which has infected more than 6.43 million people globally and killed over 380,000.

In South Africa, the government on Monday partially lifted a lockdown that has battered the economy which was already in recession before the coronavirus crisis, allowing mines and factories to run at full capacity.

In fixed income, the yield on the 10-year government bond due in 2030 was up 2.5 basis points to 8.690%.

Reporting by Olivia Kumwenda-Mtambo; Editing by Rashmi Aich

Naija247news
Naija247newshttps://www.naija247news.com/
Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

Share post:

Subscribe

Popular

More like this
Related

Gunmen kill church general overseer and pastor in Akwa Ibom

March 19, 2024. Azonuchechi Chukwu. Gunmen have killed the founder of...

Police Arrest 16-year-old boy for defiling schoolmate in Port Harcourt

March 19, 2024. Azonuchechi Chukwu. The Rivers State Police Command has...

Akwa-Ibom lovers fake own kidnap, demand N4m ransom

March 19, 2024. Azonuchechi Chukwu. The Akwa Ibom State Police Command...

The House Of Rep Member Is In Opposition Party – Soludo States Why He Didn’t Construct Road

19 Mar,2024. The Anambra State Governor, Chukwuma Soludo, has said...

Discover more from Naija247news

Subscribe now to keep reading and get access to the full archive.

Continue reading