Stun Grenades Just a Hiccup for Rand That's Seen Darker Days
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Investors are developing thick skins to political risk in South Africa.
The currency is among the world’s top 10 best performers this year despite speculation that President Jacob Zuma may fire Finance Minister Pravin Gordhan. Just 14 months ago, Zuma sent the currency crashing when he removed the respected Nhlanhla Nene from the post. The rand barely moved when Zuma’s annual address in parliament last week sparked a fist fight and riot police fired stun grenades outside.