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The rand has reversed losses and is trading higher against the US dollar, following four consecutive sessions of declines to one-month lows.
This improvement comes amid hopes of a business-friendly coalition forming in the wake of the African National Congress’s (ANC) poor election results.
Investors are optimistic about a more responsible and productive alliance between the ANC and the Democratic Alliance (DA).
Expectations of higher interest rates for extended periods continue to bolster the local currency.
The rand is currently trading at R18.55 to the US dollar.
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![[File Image] Democratic Alliance federal council chairperson, Helen Zille speaks to the media.](https://www.sabcnews.com/sabcnews/wp-content/uploads/2024/07/MBVUG4EFXZOA7LIPZGH2AKURJM-300x169.jpg)
