Johannesburg — The South African rand fell on Friday as a deepening crisis across U.S. regional banks kept global investors on tenterhooks and boosted demand for safe-haven assets.
At 0817 GMT, the rand traded at 18.3725 against the dollar , down more than 0.4% on its closing level on Thursday.
The rand is highly sensitive to shifts in global investor sentiment.
No major South African economic data releases are due on Friday. The government will hold its weekly auctions of inflation-linked bonds and Treasury bills, and the electricity minister will brief reporters on efforts to end crippling power cuts.
On the Johannesburg Stock Exchange, the Top-40 index (.JTOPI) was up about 0.6%, in line with similar gains elsewhere in emerging markets.
South Africa’s benchmark 2030 government bond was slightly weaker, the yield up 3 basis points at 10.120%.
*Alexander Winning; Editing: Conor Humphries – Reuters
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