Rand set for fifth day of gains as focus shifts to SA’s fall from WGBI
As S&P downgrades SA’s long-term and local currency ratings the country exits from the World Government Bond Index
BL PREMIUM
30 April 2020 – 12:33
A further downgrade to SA’s rating did little to deter the rand, which was set for its fifth consecutive session of gains on Thursday, as focus shifts to SA’s exit from the World Government Bond Index (WGBI).
The yield on the R2030 government bond fell 21 basis points to 10.31% in morning trade. Bond yields move inversely to prices.
Source: businesslive.co.za