Options Traders See More Pain for South Africa’s Rand: Chart

South Africa's Gordhan: Nothing More to Say

The South African rand’s implied volatility versus the dollar, based on prices for options to buy and sell the currency, rose to the highest relative to actual price swings since June, indicating that traders are betting on wider price fluctuations in coming weeks. The rand slumped more than 4 percent in two days Finance Minister Pravin Gordhan was ordered to report to police, raising concern he may be replaced as a political rift with President Jacob Zuma broadens.