South African Rand Plunges on Report Gordhan Summoned by Police
- Report raises concern of rift between Gordhan and Zuma
- Gordhan committed Treasury to spending caps, debt reduction
Rand Plunges After Gordhan Summoned by Police
South Africa’s rand fell to its weakest level against the dollar in three weeks after the Daily Maverick said a police unit had ordered Finance Minister Pravin Gordhan to report to its offices on Thursday, raising concern the National Treasury chief may be replaced.
Gordhan was informed he would receive a “warning statement” given to accused persons before they are charged with an offense and to warn them of their rights, the news website reported, without saying where it got the information. The investigation relates to the period when Gordhan was head of the tax-collection agency. Four former tax officials have been sent letters informing them of the charges against them, according to the Daily Maverick.