Johannesburg - The rand rode the wave of an emerging market rally on Tuesday, extending gains to a new three-week high to a US currency weighed down on expectations the Federal Reserve will delay an interest rate hike to September.
By 17:06 GMT the rand had firmed 0.5% to R11.8500 per dollar, having strengthened to as much as R11.8000/$ in the session before pulling back as weak Chinese manufacturing data restricted EM currency gains.