Rand rises to its strongest in a week

The rand rose to the strongest level in a week against the dollar on Wednesday as millions of South Africans took part in an election that may make or break President Cyril Ramaphosa’s reform drive.

Gains in the past two trading days reversed some of the recent losses, which were partly attributed to surveys that gave mixed signals on the results. That heightened anxiety among those who think that a less-than-convincing win for the ANC might not only derail Ramaphosa’s agenda but could also see him being removed and replaced by someone from the faction aligned with his predecessor, Jacob Zuma.

Investors are counting on Ramaphosa to push on with fighting corruption and implementing economic reforms, such as the mooted breakup of Eskom, which are seen as being key to the country avoiding a potential downgrade from Moody’s Investors Service.

BrenthurstSA Rand gaan 14.56 weer toets

BrenthurstSA Dink nie so nie gaan sluit by 14.50 by Vrydag.

Wow beautiful

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