Cabinet reshuffle speculation hits rand
At 5pm, the rand was bid at R13.5805 to the dollar, 11.12c softer than at the same time on Friday. It had reached a low of R13.6875 earlier, after rumours on Friday that top ministers might be sacked hit demand for the currency and for local bonds.
Read also: Gupta's affidavit has no merit - Gordhan
In court documents yesterday, Gordhan accused the Gupta brothers, a trio of wealthy businessmen with ties to Zuma, of carrying out an “organised campaign” against him and the Treasury.
Meanwhile, bonds were weaker yesterday, with the benchmark bond due in 2026 adding climbing.