THE RAND SLUMPS AGAINST THE DOLLAR

South Africa’s rand slumped more than 8 percent against the dollar on Friday, on track to its biggest one-day percentage fall since 2008, as Britain voted to leave the European Union, knocking appetite for riskier assets.

Government bonds also weakened, with the yield for the benchmark instrument due in 2026 adding 24 basis points to 9.12 percent, after jumping as much as 28.5 basis points earlier.

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