Rand Strengthens As Protests Against President Zuma Continue

Thousands of people rallied in South Africa's capital to call for President Jacob Zuma to resign in the second major demonstration against him in less than a week. Meanwhile though, the rand strengthened. At least 10,000 people were expected to take part in the march in Pretoria led by civil-rights groups and seven opposition parties. The so-called National Day of Action protest was called to coincide with Zuma's 75th birthday. The rally signalled heightened public opposition to Zuma since his decision to make changes to his administration drew widespread criticism. The move prompted S&P Global Ratings and Fitch Ratings Ltd. to downgrade the nation's international credit rating to junk. Earlier a meeting between Zuma and Qatar's emir was rescheduled, to avoid the embarrassment of the march to his offices in Pretoria.

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