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Rand firms to 7.78 against US dollar


IOL world currency3

Graphic: renjith krishnan

South Africa's rand touched a near 3-month high against the dollar and government bonds extended gains, tracking a global market rally as favourable US jobs data boosted risk appetite.

The rand was up 1.2 percent at 7.79/dollar by 15:48 SA time after briefly touching 7.78, its strongest level since October 31.

The yield on the 2015 bond fell as much as 19 basis points to a two-month low of 6.47 percent while that for the 2026 bond was down 15.5 basis points at 8.22 percent. - Reuters

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