Rand crashes 5%‚ banks expected to go into free-fall as Zuma fires Gordhan

The rand plummeted more than 5% on Friday morning. At 7.47 am the currency was trading at R13.53/$‚ from Thursday’s R12.79/$‚ following President Jacob Zuma’s midnight axing of Pravin Gordhan as finance minister. It now remains to be seen if the rand’s crash will be even worse than its 11% dive over the three days … Continue reading Rand crashes 5%‚ banks expected to go into free-fall as Zuma fires Gordhan