Hawks move on Gordhan unravels all rand’s good work

46 minutes ago  |    Matthew le Cordeur

Cape Town – The rand broke through the R14/$-level at the close of business in New York, but returned to R13.93/$ on news that Finance Minister Pravin Gordhan has to report to the Hawks amid the ongoing Sars Wars debacle.

Gordhan’s role as commissioner of the SA Revenue Service when an undercover investigation unit was established is being questioned by the Hawks, who are investigating whether the unit went rogue and performed illegal activities. Some believe these allegations were cooked up as the unit was allegedly sniffing down the wrong Nkandla rabbit hole.

By 08:51 the rand was trading at R14:10/$ after weakening to R14.13 earlier in the session.