Rand revival hits five-month high

SOUTH AFRICA - South Africa's battered currency continued its dramatic revival on Monday as the rand climbed to its best level against the dollar since November last year.

Early on Monday, investors were paying 10.35 rand for a US dollar, down sharply from a low of 13 rand last December.

The rand has closed lower on only two days during the last three weeks.

Analysts attribute the rand's rally to a combination of a slower-than-expected economic recovery in the US, and an improved performance b