Markets

South Africa's rand extends gains, bond yields slide

Published June 12, 2013 Updated June 12, 2013 08:20am

1 min

By Shoaib Ur Rehman

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JOHANNESBURG: South Africa's rand gained more than 1 percent against the dollar on Wednesday and government bonds were also firmer, taking a breather after a heavy sell-off which pushed the currency to new four-year lows the day before.

The rand climbed to 9.95 per dollar, its strongest in five days, while the yield for the benchmark 2026 bond fell 23 basis points to 7.895 percent.

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