# The rand strengthened to below 16-rand against dollar yesterday, reaching its strongest level since the start of the Iran war. The currency was boosted by a weaker US dollar and further gains in the gold price. Reuters says the dollar was trading at about 16-rand-5-cents in early trading, while News24 reports it briefly moved below the 16-rand level. The American currency has come under pressure after the US Treasury announced plans to buy long-term government bonds. Gold is also heading for a third consecutive weekly gain.
Rand storms through R16 as dollar bleeds, gold gains