Markets

South Africa's rand up 1pc as US data boosts EM currencies

Published March 9, 2016 Updated March 9, 2016 04:35pm

1 min

By Shoaib Ur Rehman

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JOHANNESBURG: South Africa's rand climbed 1 percent against the dollar on Wednesday as US wholesale inventories data pointed to restrained growth in the world's biggest economy, boosting appetite for emerging market currencies.

The rand hit a session high of 15.2900 per dollar, up from Tuesday's New York close at 15.4450.

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