In South Africa Rand gains 1 pct against dollar, tracks euro

At 1506 GMT the local unit was trading at 15.9900 to the dollar after briefly scaling 15.9710, compared with Monday's close at 16.1400.

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A five rand coin is displayed by a South African Reserve emplyee in a file photo. REUTERS/ Juda Ngwenya play A five rand coin is displayed by a South African Reserve emplyee in a file photo. REUTERS/ Juda Ngwenya
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South Africa's rand turned firmer against the dollar on Tuesday, climbing 1 percent mainly in line with a stronger euro in the absence of market-moving local data.

At 1506 GMT the local unit was trading at 15.9900 to the dollar after briefly scaling 15.9710, compared with Monday's close at 16.1400.

With many Asian markets closed for the Lunar New Year holiday, thin conditions might have amplified trading moves, market participants said.

Most markets in the region will re-open from Wednesday, with Chinese markets returning next week.

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