Rand Strengthens Most in World on Opposition Gains: Chart

South Africa’s rand rose the most among major currencies on Thursday against the dollar as the Democratic Alliance handed the ruling African National Congress a bruising in nationwide local-government elections. With about 70 percent of results in, the DA increased its majority in Cape Town, led the ANC in Port Elizabeth, and ran neck-in-neck in Pretoria and Johannesburg, while increasing its share of the national vote. The DA campaigned on promises to root out corruption and make it easier to do business in Africa’s most-industrialized economy.