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Rand goes from best performer to laggard as Zuma wins vote

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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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ZAR/USD
17.56
(+0.53)
ZAR/GBP
22.99
(+0.64)
ZAR/EUR
20.69
(+0.41)
ZAR/AUD
12.61
(+0.43)
ZAR/JPY
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(+0.88)
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(+1.51)
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