Rand strengthens against the dollar as Ramaphosa wins re-election


The rand appreciated more than 2% against the dollar on Monday after Cyril Ramaphosa won re-election as ANC president.

The local currency, which opened trading at R17.55 against the greenback, changed hands at R17.22 just after midday on news that Ramaphosa had won a second term.

Ramaphosa received 2,476 votes to 1,897 for his rival, former Health Minister Zweli Mkhize.

The rand also appreciated more than 1% against the pound and the euro.

We live in a world where fact and fiction blur

In uncertain times, you need journalism you can trust. For 14 free days you have access to a world of in-depth analysis, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today. After that you will be charged R75 per month. You can cancel at any time and if you cancel within 14 days you will not be charged.

Leave a Reply

Your email address will not be published. Required fields are marked *