Views Article – Sharenet Wealth

Africa, Forex

South Africa’s rand boosted by rise in risk-on sentiment

JOHANNESBURG – South Africa’s rand inched up against the dollar on Monday after encouraging economic data from China assuaged concerns about a global economic slowdown and boosted appetite for riskier assets.

* Rand at 13.9100 versus the greenback by 0657 GMT, a 0.36% rise from Friday’s close.

* Stocks opened higher, with the Johannesburg Stock Exchange’s all-share index up 0.29% to 57,441 points at 0801 GMT.

* Government bonds also strengthened, with the yield on benchmark 2026 instrument falling by 2.5 basis points to 8.035% by 0659 GMT.

South African Rand coins are seen in this photo illustration

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