/cloudfront-us-east-2.images.arcpublishing.com/reuters/RW6Y2APLPRIGDAP5TUJ5EHBRNE.jpg "South African rand strengthens towards greenback, shares rise")
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Individuals chat in entrance of an digital board displaying actions in main indices on the Johannesburg Inventory Alternate constructing in Sandton Johannesburg, file. REUTERS/Siphiwe Sibeko
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July 18 (Reuters) – South Africa’s rand superior early on Monday, because the safe-haven greenback nudged down from multi-year highs.
At 0731 GMT, the rand traded at 17.0050 towards the greenback, 0.34% stronger than its earlier shut.
The U.S. greenback index , which measures the buck towards six main friends, dropped 0.39% to 107.45.
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Economists at ETM Analytics mentioned in a notice that the rand’s worth towards the greenback would proceed to consolidate across the 17.0000 stage till a brand new catalyst arises.
On the inventory market, the High-40 (.JTOPI) index and the broader all-share (.JALSH) index rose greater than 2% in early commerce.
The federal government’s benchmark 2030 bond was flat in early offers, with the yield at 10.965%.
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Reporting by Anait Miridzhanian in Gdansk; Enhancing by Muralikumar Anantharaman
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