- South Africa has a new finance minister
- Pravin Gordhan will be sworn in Monday
- President Jacob Zuma has restored him to the post he held until 2014
The SA rand is higher following the news
-
Gordhan replaces David van Rooyen, who had replaced Nhlanhla Nene last week. The rand had fallen fell to its lowest level in 5 years after Nene was sacked.
-
h/t and thanks to a switched-on ForexLive reader in SA - thanks Tony!
-
Updated with chart - movement for the ZAR this morning
