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South African rand steady; eyes on Fed minutes
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South African court dismisses Zuma s application to block arrest
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Anti-apartheid veteran Zuma casts shadow over South Africa Reuters 2 hrs ago By Alexander Winning © Reuters/POOL FILE PHOTO: Former South African President Jacob Zuma sits in the dock after recess in his corruption trial in Pietermaritzburg
By Alexander Winning
JOHANNESBURG (Reuters) - When Jacob Zuma bowed to pressure to quit as South Africa s president in 2018, he ranted to the state broadcaster for an hour about his treatment by the party he had served since his teenage years.
Besieged by sleaze and corruption scandals throughout his nine years in power from 2009, he said it was unfair the African National Congress (ANC) had told him to resign, mainly because his comrades had not followed proper party procedure.
South Africa s Zuma hands himself over to police to begin sentence
FILE PHOTO: Former South African President Jacob Zuma stands in the dock after recess in his corruption trial in Pietermaritzburg, South Africa, May 26, 2021. Phill Magakoe/Pool via REUTERS/File Photo reuters tickers
This content was published on July 8, 2021 - 02:15
July 8, 2021 - 02:15
By Siyabonga Sishi
NKANDLA, South Africa (Reuters) -South African former President Jacob Zuma turned himself in to police on Wednesday to begin 15 months in jail for contempt of court, the culmination of a long legal drama seen as a test of the post-apartheid state s ability to enforce the rule of law.
By Reuters Staff
(Updates prices)
JOHANNESBURG, July 7 (Reuters) - South Africa’s rand steadied against the dollar in afternoon trade on Wednesday, with market attention pinned on the release of minutes from the U.S. Federal Reserve later in the day.
At 1500 GMT, the rand traded at 14.3750 against the dollar, close to its previous close of 14.3775.
Investors will scrutinise the Fed minutes, due at 1800 GMT, for further clues about when U.S. interest rates might rise. Any sign they will rise soon tends to hurt emerging market currencies like the rand.
South Africa’s net foreign reserves dipped to $51.368 billion in June, central bank data showed on Wednesday, but that did little to sway the local currency.
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