The South African Rand advanced against the U.S. dollar in the European session on Friday, after the International Monetary Fund raised the nation's growth forecast citing a resumption of solid agricultural production as the drought ends.

Concluding the 2017 Article IV consultation discussions with South Africa, IMF staff team led by Paolo Mauro said the pace of recovery this year and the next is unlikely to prevent a further increase in unemployment and a continued decline in per capita incomes.

The rand that closed yesterday's deals at 13.42 against the greenback gained to 13.23. The next possible resistance for the rand is seen around the 12.5 region.

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