National
Experts warn rand will bomb if Gordhan leaves─── 11:18 Sun, 28 Aug 2016
Analysts fear the rand, which has fallen 4% on fears that Finance Minster Pravin Gordhan faces being charged by the Hawks, will nosedive should he be booted out of office.
Reuters reports after gaining around 10% against the greenback over the past two months, the rand fell 4% this week, with the banking index also falling sharply.
This was in response to news that Gordhan was summoned by the police over an investigation into a so-called rogue Sars tax unit that was set up when he was in charge.
Analysts have cautioned that an ongoing probe on Gordhan could rock the country's markets, especially as the economy teeters near recession and credit rating agencies consider downgrading it to "junk".
