Johannesburg — South Africa’s government sold 1 billion rand ($61.6 million) of inflation-linked government bonds at an auction on Friday, according to central bank data.
The securities sold included bonds maturing in 2038, 2043 and 2058, giving investors exposure to South African government debt whose principal and interest payments are linked to inflation.
The auction comes as investors continue to assess South Africa’s inflation outlook, monetary-policy direction and government financing requirements.
The rand was quoted at 16.2423 to the U.S. dollar, implying the 1 billion rand sale was worth approximately $61.6 million.
Source: Reuters
Reporting by: Sfundo Parakozov
Editing by: Toby Chopra
