(Bloomberg) -- The South African rand this week fell
by the most in three months as higher bond yields in developed
markets prompted investors to reduce emerging market holdings.
Foreign investors sold 1.3 billion rand ($178.5 million)
more of the country's bonds than they bought on June 7, adding to
4 billion rand of net sales in the week through June 1, according
to data published by the nation's bond exchange. The currency
fell to a four-month low as the stock market fell more than 3
percent in the week, also the worst performance since March.
Read more at Bloomberg Currencies News
by the most in three months as higher bond yields in developed
markets prompted investors to reduce emerging market holdings.
Foreign investors sold 1.3 billion rand ($178.5 million)
more of the country's bonds than they bought on June 7, adding to
4 billion rand of net sales in the week through June 1, according
to data published by the nation's bond exchange. The currency
fell to a four-month low as the stock market fell more than 3
percent in the week, also the worst performance since March.
Read more at Bloomberg Currencies News
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