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Rand outshines emerging market peers

Johannesburg - The rand was the best performing currency among its emerging market peers on Monday‚ strengthening by as much as 0.54% against the dollar despite a rise in US treasury yields and weaker local bond prices.

“We are seeing a lot of other emerging market currencies trading weaker today with the Turkish lira reaching new year-to-date weakest level but the rand is trading out of sync with broader emerging market currency movements‚” said a local trader.

At 18:00 the rand was bid at R10.0960/$ from Friday’s close of R10.2110/$.

The local currency was bid at R13.2287/€ from its previous close of R13.3885/€ and was at R15.5554/£ from R15.7099/£ at its previous close.

The euro was bid at $1.3095 from $1.3103 at Friday’s close.

The worst performing emerging market currencies against the US dollar on Monday included the Turkish lira‚ down 0.71%‚ India’s rupee‚ which lost 0.65% and the Mexican peso which shaved off 0.60%.




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Rand - Dollar
19.02
-0.6%
Rand - Pound
24.01
-0.5%
Rand - Euro
20.52
-0.3%
Rand - Aus dollar
12.35
+0.0%
Rand - Yen
0.13
-0.6%
Platinum
900.40
+0.4%
Palladium
998.40
-0.3%
Gold
2,211.77
+0.8%
Silver
24.64
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Brent Crude
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All Share
74,310
+0.5%
Resource 10
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Financial 15
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