HI-REZ Life: Trevor Manuel Quits

Tuesday, September 23, 2008

Trevor Manuel Quits - Rand Slips

NVDL: Things are changing faster than I think we can follow them. Getting slippery...

THE RAND weakened over 2,8% against the dollar today while government bonds fell sharply after President Thabo Mbeki said he had accepted the resignation of Finance Minister Trevor Manuel and several other cabinet members.

In noon trade, the rand traded at R8,18 versus the greenback, after earlier touching R8,2175. The yield on the 2015 government bond surged 20 basis points to 9,12.

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