By Lelethu Mquqo
25 March 2011
The rand fluctuated earlier today when President Jacob Zuma announced that he and Finance Minister Pravin Gordhan would be addressing a media conference this afternoon.
There were fears that the announcement could adversely affect the rand.
However, Zuma announced that director of the National Treasury Lesetja Kganyago has been appointed deputy governor of the Reserve Bank.
The rand immediately recovered at the news. He will begin his new job on the 16th of May.
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