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South Africa rand falls after President Zuma sacks Gordhan

Friday, March 31, 2017

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South Africa's rand plunged more than 5% overnight after President Jacob Zuma sacked Finance Minister Pravin Gordhan.

Nine other ministers were sacked as the president overhauled his cabinet.

Mr Gordhan was seen by many as a bulwark against corruption in an administration that is facing growing criticism.

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South Africa rand falls after President Zuma sacks Gordhan

South Africa's rand plunged more than 5% overnight after President Jacob Zuma sacked Finance Minister Pravin Gordhan.