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South Africa's Treasury plans to tap rand sukuk bonds, boosting demand for ZAR and causing the rand to gain.
Impact on assets 1
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South Africa's National Treasury will tap existing rand-denominated sukuk bonds as part of its current fiscal year funding plans, according to Societe Generale strategists. The issuance size and timing remain unknown. The South African rand gained following the announcement.
South Africa's Treasury plans to tap rand sukuk bonds, boosting demand for ZAR and causing the rand to gain.