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Rand 'mauled' in reshuffle aftermath

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Cape Town  The rand has been mauled in the aftermath of President Zuma’s Cabinet reshuffle, and has since lost 11% versus the US dollar and 9% on a trade-weighted basis, said Overberg Asset Management (OAM) in its weekly overview of the SA economic landscape.

It noted that the rand will likely maintain its downward trajectory as the inability of the ANC to remove Zuma post the cabinet reshuffle heightens the political-economic risks.

South Africa economic review

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