The rand extended gains on Thursday afternoon as the Reserve Bank opted to keep the repo rate unchanged at 6.5%, in line with market expectations.

Shortly after the announcement, the rand had firmed 0.9% to R14.6505/$, a level it has not seen since October 30. It had strengthened 0.71% to R16.248/€ and 0.54% to R18.993/£. ..

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