(Bloomberg) -- The South African rand advanced to its strongest in more than three months as gold, the nation's single largest source of foreign exchange, touched an 11-month high, boosting demand for the currency.
The rand appreciated with other emerging market currencies as prospects for faster growth boosted demand for high-yielding assets. Gold accounts for about 13 percent of exports in Africa's largest economy and the rand often moves in tandem with the precious metal.
Read more at Bloomberg Currencies News
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