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Rand improves slightly following ConCourt ruling in UDM case

The Constitutional Court has issued directives in the UDM’s bid to force Parliament to hold a secret ballot during the vote of no confidence in President Jacob Zuma.

Picture: EWN.

JOHANNESBURG - The rand has improved slightly on Tuesday afternoon.

Nedbank's Isaac Matshego says this is partly in response to the news that the Constitutional Court has issued directives in the UDM’s bid to force Parliament to hold a secret ballot during the vote of no confidence in
President Jacob Zuma.

Matshego says the rand has extended its gains to 1% against the dollar.

But he says the news about the Constitutional Court has also coincided with the release of very weak manufacturing numbers.

UDM leader Bantu Holomisa has welcomed the court's decision.

The matter will have to be decided within the next week if the vote is to continue on its scheduled date of 18 April.

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