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South African rand holds firm despite stronger dollar and weak metals
JOHANNESBURG: The South African rand was steady early on Tuesday, shrugging off a stronger US dollar even as weaker gold and platinum prices weighed on South Africa’s export earnings and terms of trade. At 0651 GMT the rand traded at 16.6325 against the dollar , little changed from its previous close of 16.6497. The US dollar index , which measures the greenback against a basket of currencies edged up, driven by easing expectations of a Federal Reserve interest rate hike this month. Gold and platinum, South Africa’s key exports, eased on Tuesday also pressured by the firmer dollar. ET...
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