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