South Africa’s rand starts week on back foot on political uncertainty

PUBLISHED: Mon, 03 Apr 2017 09:46:52 GMT

JOHANNESBURG (Reuters) – South Africa’s rand and government bonds started the week on the back foot as political uncertainty weighed on sentiment after last week’s cabinet reshuffle that saw changes at the Treasury. Just after 11am CAT the rand was 1.63 per cent weaker to the dollar at 13.64. From 27 March when then Finance Minister Pravin Gordhan was recalled from an overseas investor trip until today it is 10.8 per cent weaker.

For full coverage of what transpired since the 27 March click: Cabinet reshuffle

(Reporting by Olivia Kumwenda-Mtambo; Editing by Tom Heneghan)

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