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Name Symbol Market Type
United States Dollar vs South African Rand FX:USDZAR Forex Exchange Rate
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  -0.395895 -2.38% 16.20756 16.192 16.22311 16.6327 16.04505 16.60527 0 23:32:46

South African Rand Rises Back Vs U.S. Dollar As ANC Fires Zuma

13/02/2018 7:52am

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The South African Rand rose back against the U.S. dollar in the European session on Tuesday, as South Africa's ruling African National Congress formally ordered President Jacob Zuma to leave office amid corruption allegations.

At the ANC's executive committee meeting in Pretoria, the party officials decided to recall Zuma and gave him 48 hours to step down.

If Zuma rejects the order, he would be expelled through a parliamentary vote of no-confidence scheduled next week.

The rand rose back to 11.87 against the greenback, compared to Monday's closing value of 11.93. If the rand rises further, 10.00 is possibly seen as its next resistance level.

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