JOHANNESBURG, May 15 (Reuters) - South Africa's rand
firmed in early trade on Monday, recovering from an all-time low
hit against the dollar last week as investors were spooked by
possible sanctions amid U.S. allegations, rejected by Pretoria,
that South Africa had shipped arms to Russia.
At 0811 GMT, the rand traded at 19.0200 against the dollar , 1.6% stronger than its previous close.
The currency - already under pressure over the worst power
cuts on record - was pummelled last week by investor concerns
over a U.S. allegation that a Russian ship had picked up weapons
in South Africa in December.
It hit 19.51 to the dollar at one point on Friday, its
weakest level ever.
South African officials swiftly rejected the U.S. claims and
said it had not approved any arms shipment to Russia in
December.
On the stock market, the Top-40 and the broader
all-share index were both up nearly 0.1% in early
trade.
South Africa's benchmark 2030 government bond was
stronger in early deals, with the yield down 25 basis points at
10.690%.
(Reporting by Bhargav Acharya; Editing by Emelia
Sithole-Matarise)
