South African Rand Hits Multi Month High
The South African rand strengthened to its highest level since late February on Friday. Rising gold prices and a weaker dollar provided a significant boost to the commodity linked currency. Local stocks and bonds also posted gains during early trading sessions.
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The South Africa rand strengthened to its strongest level against the USD/ZAR since the start of the Iran war on February 28. Friday's midday move pushed the currency up 0.8% to trade at 15.9925 per dollar.
