South African rand depreciates due to falling ANC support and Zuma-backed party's rise in polls.
Rand drops as new poll shows ANC support falling and Zuma-backed party's rise. The South African currency depreciated by 0.9% to 18.6231 per dollar after a poll by the Social Research Foundation revealed that support for the ruling African National Congress (ANC) is plummeting, and a party backed by former President Jacob Zuma may become the country's third-largest. This increase in political uncertainty has led to a decline in the rand's value.
April 10, 2024
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