{"id":15020,"date":"2012-09-28T05:04:33","date_gmt":"2012-09-28T03:04:33","guid":{"rendered":"http:\/\/www.myza.co.za\/09\/s-africas-rand-falls-on-moodys-downgrade\/"},"modified":"2012-09-28T05:04:33","modified_gmt":"2012-09-28T03:04:33","slug":"s-africas-rand-falls-on-moodys-downgrade","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-falls-on-moodys-downgrade\/","title":{"rendered":"S.Africa&#8217;s rand falls on Moody&#8217;s downgrade"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand falls following Moody&#8217;s downgrade<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Currency dips 0.6 pct<\/p>\n<p><span><\/span><\/p>\n<p>* Govt bonds steady<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, Sept 27 (Reuters) &#8211; South Africa&#8217;s rand dipped<br \/>\n0.6 percent against the dollar on Thursday after Moody&#8217;s cut the<br \/>\ncountry&#8217;s government bond rating by one notch to Baa1 from A3,<br \/>\n24 hours ahead of its inclusion into Citigroup&#8217;s World<br \/>\nGovernment Bond Index.<\/p>\n<p><span><\/span><\/p>\n<p>The rating agency cited worries about the country&#8217;s<br \/>\ninstitutional strength, investment climate, as well as future<br \/>\npolitical stability. It added that the outlook remains<br \/>\nnegative.<\/p>\n<p><span><\/span><\/p>\n<p>The revision reflects Moody&#8217;s view of the South African<br \/>\nauthorities&#8217; reduced capacity to handle the current political<br \/>\nand economic situation and to implement effective strategies<br \/>\nthat could place the economy on a path to faster and more<br \/>\ninclusive growth.<\/p>\n<p><span><\/span><\/p>\n<p>The rand dropped to 8.2850 following the<br \/>\nannouncement, after touching a session high of 8.1680.<\/p>\n<p><span><\/span><\/p>\n<p>It later recovered some of its losses and was trading at<br \/>\n8.2260 against the greenback at 16:05 GMT, barely changed from<br \/>\nWednesday&#8217;s New York close of 8.2350.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;It&#8217;s a normal market reaction,&#8221; said Kabelo Rikhotso, head<br \/>\nof equity, fixed income and property funds at Investments<br \/>\nSolutions.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Rand falls following Moody&#8217;s downgrade * Currency dips 0.6 pct * Govt bonds steady JOHANNESBURG, Sept 27 (Reuters) &#8211; South Africa&#8217;s rand dipped 0.6 percent against the dollar on Thursday after Moody&#8217;s cut the country&#8217;s government bond rating by one notch to Baa1 from A3, 24 hours ahead of its inclusion into Citigroup&#8217;s World [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-15020","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15020","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=15020"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15020\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=15020"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=15020"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=15020"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}