(Bloomberg) -- South Africa's rand rose for a fourth
day, touching its highest in six weeks, on speculation the
country's relatively high rates will keep luring investors
looking for yield.
Foreign investors bought 728 million rand ($103.8 million)
more than they sold of the country's bonds June 29, reversing net
sales of 706 million rand the previous day, according to the Bond
Exchange of South Africa. The rand had risen as the gap in yield
between South African benchmark 10-year debt and similar maturity
Treasuries widened more than 30 points in the past month.
Read more at Bloomberg Currencies News
day, touching its highest in six weeks, on speculation the
country's relatively high rates will keep luring investors
looking for yield.
Foreign investors bought 728 million rand ($103.8 million)
more than they sold of the country's bonds June 29, reversing net
sales of 706 million rand the previous day, according to the Bond
Exchange of South Africa. The rand had risen as the gap in yield
between South African benchmark 10-year debt and similar maturity
Treasuries widened more than 30 points in the past month.
Read more at Bloomberg Currencies News
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