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JOHANNESBURG. — South Africa’s rand slipped early yesterday, as the dollar inched higher following a recent slump. At 0640 GMT, the rand traded at 13 9550 versus the US currency, 0,5 percent weaker than its previous close.
Similar falls were seen in other emerging market currencies like the Russian rouble and Turkish lira.
The dollar index, which tracks the green-back against a basket of major peers, was 0,15 percent stronger.
The rand enjoyed a strong start to 2019, helped by dovish comments by US Federal Reserve policymakers which have hurt the dollar.
It is still up more than 2,5 percent against the dollar this year despite Tuesday’s decline.
Government bonds were also weaker in early deals, with the yield on the 2026 bond up 4 basis points to 8,810 percent. — Reuters.
Online Reporter