Rand goes from best performer to laggard as Zuma wins vote

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President Jacob Zuma.
President Jacob Zuma.

London - The rand fell for a second day against the dollar after President Jacob Zuma survived a no-confidence vote that could have brought an end to his administration.

The decline marks a swift turnaround for the rand, which was the best-performing major currency on Monday as the secret ballot was announced.

It saw the single biggest losses among Eastern European and African currencies on Wednesday. Despite the abrupt change in fortunes, the result is unlikely to be a trigger for excessive currency weakness as the defeat of the motion was largely priced in beforehand, according to Commerzbank.

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Rand - Dollar
14.72
-0.8%
Rand - Pound
20.27
-0.8%
Rand - Euro
17.07
-0.6%
Rand - Aus dollar
11.04
-1.0%
Rand - Yen
0.13
-0.3%
Gold
1,787.83
-1.1%
Silver
23.98
-2.4%
Palladium
1,974.10
-4.0%
Platinum
1,031.50
-2.9%
Brent Crude
85.99
+0.5%
Top 40
60,888
+1.0%
All Share
67,436
+1.0%
Resource 10
63,809
+0.3%
Industrial 25
86,606
+1.5%
Financial 15
13,973
+0.9%
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