Kevin Hagen/Getty Images
- South African President Jacob Zuma resigned on Tuesday night.
- In response, the rand hit its highest level in close to three years.
- The USD/ZAR currently trades 11.7062, down from a high of 14.5725 just two months ago.
The South African rand just hit its highest level in close to three years, helped by news that Jacob Zuma has resigned as the nation’s president on Wednesday.
Zuma had come under increased pressure to step down following accusations of corruption, money laundering, and fraud.See the rest of the story at Business Insider
NOW WATCH: Microsoft President Brad Smith says the US shouldn’t get ‘too isolationist’
See Also:
- Here’s what it was like to be Mansa Musa, thought to be the richest person in history
- Here’s how your tax bracket will change in 2018
- A top psychologist says there’s only one way to become the best in your field — but not everyone agrees
SEE ALSO: Jacob Zuma has resigned as president of South Africa
