South Africa's rand eases on economic growth concerns

South African bank notes featuring images of former South African President Nelson Mandela (R) are displayed next to the American dollar notes in this photo illustration in Johannesburg August 13 2014. REUTERS/Siphiwe Sibeko·Reuters· (Reuters)

JOHANNESBURG (Reuters) - South Africa's rand eased on Friday, pressured by economic concerns after the World Bank cut its growth forecast and data showed credit demand falling more than expected. * At 0615 GMT, the rand traded 0.4 percent weaker at 13.93per dollar. * World Bank cuts South Africa's growth forecast, S&P sayspolitical turmoil a concern. * Zuma urges ministries to tackle 'mayhem' at universitiesas student protests expose ANC's weak policy record. * U.S. data due next week causing market jitters. Chance ofa Federal Reserve rate hike in December seen 50-50. * Yield for the benchmark government bond due in 2026 up 0.5basis points to 8.72 percent. (Reporting by Joe Brock; Editing by Ed Cropley)

Advertisement