Rand rises for third day as coal strike ends and Cyprus's financial package deal

The South African currency continued its three day rally on Monday as a strike at the nation's second largest coal miner came to an end and after Cyprus's agreement of a new bailout plan for the country's faltering economy boosted demand for more risky assets. The Rand appreciated 0.5% to 9.2572 per U.S. Dollar after it recorded a loss of 1.3% last week.