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Thursday, July 7, 2022

South Africa’s rand adds to gains after weak US jobs data

South Africa's rand adds to gains after weak US jobs dataJOHANNESBURG: South Africa’s rand strengthened more than 1 percent against the dollar in late afternoon deals on Friday, extending gains after weak US payrolls data dented expectations that the Federal Reserve will raise interest rates this year.

By 1502 GMT, the rand had gained 1.07 percent to 13.7775 per dollar compared with Thursday’s New York close.

Copyright Reuters, 2015

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