Markets

South Africa's rand extends losses on dollar strength

Published March 26, 2015 Updated March 26, 2015 03:12pm

1 min

By Imad Uddin

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JOHANNESBURG: South Africa's rand extended losses against the dollar on Thursday, despite a hawkish monetary policy statement, mainly reflecting broad-based strength of the greenback against major currencies.

Government bonds also weakened sharply, with the yield for the 2026 benchmark up as much as 16.5 basis points to 7.780 percent.

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