(Bloomberg) -- The South African rand climbed to its strongest in more than three months as rising gold and platinum prices boosted demand. The local currency is headed for its biggest weekly gain in a month.
South Africa is the world's largest producer of gold and platinum and its currency often moves in tandem with the metals. The rand also gained alongside other emerging market currencies as investors sought higher yields on speculation economic growth in the U.S. is slowing.
Read more at Bloomberg Currencies News
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