Rand Gains on News About Possible End to President Zuma’s Rule

The South African rand gained on the US dollar today after news broke out that President Jacob Zuma, who was in power since 2009, may lose his post.

Zuma has lost leadership of the ruling African National Congress party back in December. Now, there are rumors that the ANC asked Zuma to resign or face a vote of confidence in the parliament. Analysts believe that he will very likely lose such vote.

USD/ZAR fell 0.37% to 11.8905 as of 12:23 GMT today.

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