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Markets want to see Zuma exit the presidency - economist

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Cape Town - The way the rand has performed over the past 24 hours shows that the markets want a Zuma exit, said Gina Schoeman, chief economist of Citi Bank.

The rand lost significantly against the dollar on Tuesday following the failed no confidence motion in President Jacob Zuma, trading at R13.39 immediately after the results announcement - from R13.11/$ earlier in the day.

Schoeman said the consensus was that Zuma would survive the no confidence vote, but there’s definitely a feeling of disappointment.

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ZAR/USD
15.31
(-0.63)
ZAR/GBP
20.89
(-0.35)
ZAR/EUR
18.56
(-0.44)
ZAR/AUD
11.76
(-0.18)
ZAR/JPY
0.15
(-0.59)
Gold
1856.01
(+0.04)
Silver
25.30
(-0.08)
Platinum
1084.00
(-0.82)
Brent Crude
55.72
(+0.78)
Palladium
2332.50
(+0.46)
All Share
64559.85
(+0.89)
Top 40
59408.05
(+0.89)
Financial 15
11549.82
(-1.16)
Industrial 25
88868.70
(+2.65)
Resource 10
62256.06
(-0.71)
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