Rand remains strong as Zuma is asked to bow out

JOHANNESBURG – The rand has been holding strong in early trade on Tuesday after news broke that the ANC had given President Jacob Zuma an ultimatum to step down as head of the nation.
This morning the rand was at R11.93 to the dollar, 16.60cents stronger than at the same time on Friday. It had gained as much as R11.88 earlier yesterday after a reporter from the SABC, citing confidential sources, said Zuma had agreed to step down.

Presidency spokesman Bongani Ngqulunga dismissed the report as “fake news”, and the rand subsequently gave back gains to near where it had been trading …read more