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Markets

South Africa rand hits key 9.0 vs dollar level on BOJ stimulus

Published April 8, 2013 Updated April 8, 2013 12:01pm
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By Muhammad Iqbal
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imageJOHANNESBURG: South Africa's rand rose to 9.0 against the dollar on Monday, its strongest level in more than a month, as the Bank of Japan's bond-buying programme boosted risky assets.

The rand was at 9.0174 to the dollar at 1107 GMT, after briefly hitting the psychologically key 9.0 level.

"Overall, we're just seeing an extension of the move that played out on Friday across risk currencies as the Bank of Japan announced pretty aggressive stimulus measures," said Gareth Brickman, market analyst at ETM Analytics.

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