Zuma's High Noon Puts Rand Investors Into Brace Position

As the clock ticks for South Africa’s President Jacob Zuma, the risk premium on the country’s currency is climbing. One-week implied volatility for the rand versus the dollar has jumped 2.45 percentage points since Wednesday to the highest since mid-December. Zuma’s fate is set to be sealed Monday when the top leadership of the ruling African National Congress meets to conclude the transition of power to deputy President Cyril Ramaphosa.

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