In August alone‚ bond outflows were R18.3-billion‚ according to the JSE data‚ while net equity sales were R14-billion.
The volatility in the rand has raised concern about much higher inflation‚ coming as oil prices remain high.
Some economists‚ including Investec economist Annabel Bishop‚ said earlier in the week that the Reserve Bank could raise interest rates by 25 basis points next week‚ when its monetary policy committee concludes its meeting.
Higher interest rates tend to attract foreign capital‚ which in turn boosts the currency. Turkey‚ which has been in the eye of the recent emerging-market storm‚ is scheduled to decide on interest rates in the afternoon.
“The market is divided between what they expect the Turkish central bank will do‚ with expectation ranging from no hike to a 400 basis points hike being seen in the market‚” said Andre Botha‚ senior currency dealer at TreasuryOne.
“In plain English: the bigger the hike‚ the better it would be for [emerging markets] and should the decision disappoint‚ we could see emerging markets undoing all of the good work that has been done in the past week.”
At 10.46am‚ the rand was at R14.8466 to the dollar from R14.9639 on Wednesday. It was at R17.2553 to the euro from R17.3923‚ and at R19.3708 to the pound from R19.5182. The euro was at $1.1622 from $1.1626
The yield on the benchmark R186 bond‚ meanwhile‚ eased to 9.14%‚ from 9.19%.