RandReport: Rand reaches week high as Moody's delays decision
JOHANNESBURG - The rand gained on Monday after Moody’s delayed its credit rating decision while Chinese stocks, boosted by positive manufacturing data, helped lift local shares.
Such a downgrade would likely mean an outflow of billions of dollars, with big pension funds and other investors forced to sell their South African bonds. The Johannesburg Stock Exchange ended higher, with the Top-40 rising by 1.2% while the wider All-share index rose 1.15%.
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