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South African rand jumps as gold high boosts commodity-backed currency - REUTERS

MARCH 15, 2025

JOHANNESBURG, March 14 (Reuters) - South Africa's rand gained on Friday due to record high gold prices that were driven by investors seeking safe haven assets amid worries over a global trade war.

At 1457 GMT, the rand traded at 18.1850 against the dollar , about 0.7% firmer than its previous close. The South African currency had fallen earlier this week on domestic political tensions sparked by a revised national budget.


"The rand is ending the week on a strong note, bolstered by global market sentiment rather than domestic developments, despite uncertainty surrounding the ratification of the proposed budget," said Zain Vawda, market analyst at MarketPulse by OANDA.

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