South African finance minister Gordhan has been summoned by police 24 Aug
Reuters reporting.
One for our ZAR traders and general info for others.
USDZAR has spiked to 14.1703 from 13.9280. Bonds tumbling too.
No further deets as yet.
USDZAR currently 14.1375
Adam had the early grab on this story as rumours circulated last night.
Gordhan was appointed fin min in December 2015, a post he previously held between 2009-2014, after PM Zuma came in for a lot of flack, and the rand tumbled, when trying to replace previous incumbent Nhlanhle Nene with David van Rooyen. Zuma was forced to backtrack on his decision and went instead for Gordhan.
Update: 07.37 GMT:
- elite police unit summoned Gordhan over an investigation into a suspected rogue unit of the tax service
- Gordhan and other former officials at the South African Revenue Service must report on Thursday morning in relation to contravention of surveillance regulations
- Gordhan currently seeking legal advice
The move is being seen as a bid to oust Gordhan from office.
SA fin min Pravin Gordhan summoned by police
