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Johannesburg - The rand firmed in the morning session on Wednesday, led by a surging gold price and a stronger euro.
The local currency is strong on the crosses, a local trader noted.
At 09:07 the rand was bid at R7.4100 to the dollar from R7.4446 at its previous close. It was bid at R11.1015 to the euro from its previous close of R11.1326 and was at R12.3220 against sterling from R12.3492.
The euro was bid at $1.4997 from $1.4963 overnight.
Gold last quoted at $1 1180/oz
A local trader said: "The rand is firmer on the crosses - why? Gold. The emerging markets are doing well amid good performing commodities, while local stocks are also performing solidly.
"The euro is also firmer," the trader said.
- I-Net Bridge