Markets

S.Africa's rand gains nearly 2 percent against falling dollar

Published June 3, 2013 Updated June 3, 2013 04:25pm

1 min

By Abdul Ahad

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JOHANNESBURG: South Africa's rand strengthened nearly 2 percent against the greenback on Monday, largely buoyed by broad-based dollar weakness after data showed a contraction in the US manufacturing sector.

The rand climbed to a three-day high of 9.86 per dollar after closing Friday's trade at 10.0550.

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