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South Africa Rand, Bonds Gain on Strong Auction Demand

Bloomberg Markets •
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South Africa's rand strengthened to a six-month high against the dollar and bonds rallied after a government debt auction attracted the strongest demand in almost three months. Primary dealers placed orders for 14.79 billion rand ($925 million) at the National Treasury's weekly sale of fixed-rate bonds on Tuesday, nearly six times the 2.55 billion rand offered.