Rand Strongest in World as Local Elections, BOE Boost Currency

Updated on
  • S. African cities show reduced backing for ANC in local voting
  • Currency trades below 18 per pound first time since April ’05

The rand strengthened to a nine-month high against the dollar and traded below 18 per pound for the first time since April 2015 as results from South African local-government elections showed a swing toward the main opposition.

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