Rand plummets after finmin summoned for fraud

|By:, SA News Editor

South African prosecutors issued Finance Minister Pravin Gordhan a formal summons on fraud charges today, sending the rand down as much as 3.2% immediately following the news.

Government bonds are also taking a battering. Yields on South Africa's 10-year debt are up 0.25 percentage points on the day to 8.925%, their highest level since the beginning of September.


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