Johannesburg – South Africa's government has raised 900 million rand ($54.10 million) through the sale of inflation-linked government bonds at auction, according to central bank data released on Friday.
The bonds sold comprise three maturities: 2031 (ZAI2031), 2043 (ZAI2043) and 2058 (ZAI2058).
Inflation-linked bonds are designed to protect investors against the effects of rising prices by adjusting their value or returns in line with inflation.
The auction forms part of South Africa's domestic borrowing programme, providing the government with access to long-term financing while offering investors an instrument to manage inflation-related risks.
The rand was trading at 16.6361 against the U.S. dollar.
Source: Reuters
Reporting: Anathi Madubela & Nilutpal Timsina
