President Cyril Ramaphosa

The rand strengthened by more than 2% against the dollar after president Cyril Ramaphosa secured a second term as ANC president. Photo: Gallo Images.

Rand strengthens after Cyril Ramaphosa gets second term as ANC president

The rand strengthened by more than 2% against the dollar after Cyril Ramaphosa secured a second term as ANC president.

President Cyril Ramaphosa

The rand strengthened by more than 2% against the dollar after president Cyril Ramaphosa secured a second term as ANC president. Photo: Gallo Images.

The South African rand strengthened by more than 2% against the dollar on Monday, 19 December after president Cyril Ramaphosa – as reported by The South African website – secured a second term as ANC president.

ALSO READ | ANC NATIONAL CONFERENCE: MEET THE NEW TOP 7

The currency, which opened morning trading at R17.60 to the dollar, was changing hands at R17.22 shortly after midday following confirmation of the results.

Ramaphosa received 2 476 votes against 1 897 for his rival, former health minister Zweli Mkhize

The rand also strengthened against the pound and the euro

  • ZAR/USD: R17.21 (-2.44%)
  • ZAR/EUR: R18.29 (-1.93%)
  • ZAR/GBP: R21.03 (-2.14%)