MW South African rand leads currency losers after economic outlook downgrade
MW South African rand leads currency losers after economic outlook downgrade
MW South African rand leads currency losers after economic outlook downgrade
South Africa's rand sold off on Wednesday after newly appointed Finance Minister Tito Mboweni unveiled a downgraded economic forecast for the country. The rand was the worst performing emerging market currency versus the dollar during the session, with the greenback climbing more than 2% against it. Mboweni announced that government debt is expected to keep rising until 2024 -- two years longer than expected -- when it will hit some 60% of gross domestic product, rather than 56%, as previously forecast. The budget deficit is also set to widen. The rand slipped to a near two-week-low against the U.S. dollar, with one buck last buying 14.5760 rand, up more than 2% from 14.2569 late Tuesday in New York. The iShares MSCI South Africa ETF (EZA) was meanwhile down 4%.
-Anneken Tappe; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
October 24, 2018 13:45 ET (17:45 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
MW South African rand leads currency losers after economic outlook downgrade
MW南非蘭特在經濟前景下調後領跌貨幣
South Africa's rand sold off on Wednesday after newly appointed Finance Minister Tito Mboweni unveiled a downgraded economic forecast for the country. The rand was the worst performing emerging market currency versus the dollar during the session, with the greenback climbing more than 2% against it. Mboweni announced that government debt is expected to keep rising until 2024 -- two years longer than expected -- when it will hit some 60% of gross domestic product, rather than 56%, as previously forecast. The budget deficit is also set to widen. The rand slipped to a near two-week-low against the U.S. dollar, with one buck last buying 14.5760 rand, up more than 2% from 14.2569 late Tuesday in New York. The iShares MSCI South Africa ETF (EZA) was meanwhile down 4%.
南非蘭特週三遭拋售，此前新任財長Tito MBoweni公佈下調該國經濟預估。蘭特是盤中表現最差的新興市場貨幣兑美元，美元兑蘭特攀升逾2%。姆博維尼宣佈，政府債務預計將持續上升到2024年，比預期多兩年，屆時政府債務佔國內生產總值(GDP)的比例將達到60%左右，而不是之前預測的56%。預算赤字也將擴大。蘭特兑美元跌至近兩週低點，1美元兑14.5760蘭特，較週二紐約尾盤的14.2569上漲逾2%。與此同時，安碩MSCI南非交易所交易基金(IShares MSCI South ETF)下跌了4%。
-Anneken Tappe; 415-439-6400; AskNewswires@dowjones.com
-Anneken Tappe；415-439-6400；電子郵件：AskNewswres@dowjones.com
(END) Dow Jones Newswires
(完)道瓊通訊社
October 24, 2018 13:45 ET (17:45 GMT)
2018年10月24日美國東部時間13：45(格林尼治標準時間17：45)
Copyright (c) 2018 Dow Jones & Company, Inc.
版權所有(C)2018年道瓊斯公司
譯文內容由第三人軟體翻譯。
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