The South African rand could surge if President Jacob Zuma is ousted by a motion of no confidence in the nation’s parliament, though gains would reverse if Zuma survives the vote, analysts say.
The currency rose for a second day on Tuesday after being the best performer among 31 major peers Monday as National Assembly Speaker Baleka Mbete said parliament would vote by secret ballot Tuesday.
Parliament sits at 2 p.m. local time to consider the motion, and the results are expected to be tallied later in the afternoon.
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