Rand firmer on reports Zuma may be forced to resign

The rand remained stronger against the dollar on Thursday afternoon‚ following reports that President Jacob Zuma could be forced to resign when the ANC’s national executive committee (NEC) meets for the first time in 2018 — next Wednesday‚ January 10.

The rand started the day at about R12.40 to the dollar‚ before strengthening to R12.23‚ its best level since June 2015.

Several ANC NEC members told The Star that Zuma faced another motion of no confidence if he did not voluntarily vacate his position by next Tuesday‚ the day before the NEC meeting.

At 3pm‚ the rand was at R12.3136 to the dollar from R12.3642‚ at R14.8617 to the euro from R14.8554‚ and at R16.6813 to the pound from R16.7145.

The euro was at $1.2068 from $1.2014.

- BusinessLIVE