On the day that ANC President, Jacob Zuma was decide not to be prosecuted by the National Prosecuting Authority (NPA) for alleged fraud, corruption, money laundering and racketeering, the rand did not react. Some of us had thought that this news may cause our local currency to take a knock as foreign investors may have reacted to this decision. But for now, the rand has not reacted; who knows, maybe in a couple of days or weeks, we will start to see movements in the rand, triggered by the Jacob Zuma decision. But it will be very difficult to say that the rand has dropped or gained strength becuase Zuma hs been cleared. The closest we could have got to see the rands reaction to this whole Zuma saga would have been today when then decision was made but alas the rand was not phased.

At 16:05 the rand was bid at 9.0458 to the dollar from an overnight close of 9.0310. It was bid at 12.1635 to the euro from a previous 12.2020 and at 13.4080 against sterling from 13.4085 before.

I guess at the end of the day, many expected the Zuma decision to go as it went, so business as normal, life goes on.

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