The Nedbank Economic Unit reports that the rand closed lower at R8,17, R12,60 and R16,21 on Thursday against the US dollar, the euro and the British pound from R7,93, R12,43 and R15,98 at the end of the previous week, dragged down by risk aversion on continued worries about the global economy, lower commodity prices as well as some recovery in the US dollar.
This caused the local bond market to end mixed on Thursday, with the yield on the R153 2010 edging up to 9,65% from 9,64% at the end of the previous week, while the yield on the R157 2015 was steady at 9,20%.
The yields on the 3- and 10-year BESA actuaries fell to 9,45% and 9,18% respectively from 9,47% and 9,19%, while the yield on the 5-year BESA actuary increased to 9,29% from 9,27%.