Rand weakens slightly as Zuma is recalled by ANC

CAPE TOWN – The rand made weakened slightly on Tuesday midday after news broke that President Jacob Zuma would be recalled from his position as president of South Africa.

The rand stood at R11.91 to the dollar as news broke of Zuma’s fate. The rand was at R16.52 to the pound and R14.70 to the euro.

As the news hit the markets the rand weakened to R11.94 to the dollar. The rand was at R16.62 to the pound and R14.75 to the euro.

The rand has been holding strong in early trade on Tuesday after news broke that the ANC would …read more