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South African Rand To Us Dollar Price

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Editor’s remarks:
The South African Rand got a major boost yesterday as prosecutors dropped charges against the Finance Minister Pravin Gordhan. Although the position has been somewhat of a rotating door recently, investors are content with consistency, reduced internal conflict and the support this lends towards the African National Congress, South Africa’s ruling party. However, this seems to be a false dawn for the high-flying currency as protests continue from students around the country and domestic reforms still go missing while the Gordhan still has another investigation to dodge. Many have been predicting that South Africa will be downgraded to junk in December when the S&P has its next review.

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