The South African Rand traded lower against the U.S. dollar in the early European session on Friday, after the nation's President Jacob Zuma removed finance minister Pravin Gordhan in a cabinet reshuffle, raising fears of a split in the ruling African National Congress.

Gordhan was replaced with Malusi Gigaba, who was serving as the home affairs minister.

The Rand has been falling since Monday, when Zuma ordered Gordhan to return home from a trade trip to Britain.

The South African Rand fell to near a 2-month low of 13.62 against the U.S. dollar, and held steady thereafter. The pair ended Thursday's trading at 13.29.

US Dollar vs ZAR (FX:USDZAR)
Graphique Historique de la Devise
De Déc 2024 à Jan 2025 Plus de graphiques de la Bourse US Dollar vs ZAR
US Dollar vs ZAR (FX:USDZAR)
Graphique Historique de la Devise
De Jan 2024 à Jan 2025 Plus de graphiques de la Bourse US Dollar vs ZAR