South African Rand Advances To Near 3-year High Against U.S. Dollar
February 14 2018 - 2:55AM
RTTF2
The South African Rand firmed against the U.S. dollar in the
European session on Wednesday, as speculation of exit of South
African President President Jacob Zuma intensified after ruling
party called a no confidence vote on Thursday, if he refuses to
resign today.
The African National Congress party treasurer-general Paul
Mashatile said that the party cannot wait beyond Wednesday for Zuma
to resign.
The party is expected to hold a motion of no-confidence on
Thursday, at which Zuma is impossible to survive.
The South African Rand climbed to near a 3-year high of 11.7896
against the greenback and held steady thereafter. The pair closed
Tuesday's deals at 11.9558.
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