South African Markets Celebrate Dropping Of Charges On Finance Minister, Rand Up 1.6%
Headlines Africa
Welcome
Login / Register

South African Markets Celebrate Dropping Of Charges On Finance Minister, Rand Up 1.6%

Thanks! Share it with your friends!

URL

You disliked this video. Thanks for the feedback!

Sorry, only registred users can create playlists.
URL


Added by Headlines Africa in South Africa
136 Views

Description

South Africa's markets are celebrating after news broke on Monday that the National Prosecuting Authority has withdrawn summons against Finance Minister Pravin Gordhan. NPA head, Shaun Abrahams, said in a letter to Gordhan's attorney that after reviewing the matter he has decided to overrule the decision to prosecute the minister. The rand, which had started regaining previously lost ground in the morning, strengthened by 1.6%, breaking through 13.60 rand to the dollar as the news spread. At the time markets opened on Monday morning the rand was trading at 13.81, close to levels recorded on October 10 before the NPA announced plans to charge Gordhan.

Post your comment

Comments

Be the first to comment