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South African Rand Rises on Elections

The South African rand strengthened as early election results indicated potential investor-friendly coalitions. Meanwhile, broader market sentiment was lifted by US midterm voting outcomes.

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South African Rand coins are seen in this illustration picture taken October 28, 2020. REUTERS/Mike Hutchings/Illustration

South Africa's rand strengthened 0.5% against the dollar during Thursday morning trading on early municipal election results and political shifts in the United States.