The South African rand has held its ground today (Friday September 26) after the country’s new caretaker president, Kgalema Motlanthe, confirmed the reappointment of Trevor Manuel as finance minister. So far, South Africa’s political turmoil has meant a feast of volatility for derivatives traders.
However, market participants are on edge to know how the ousting of President Thabo Mbeki last weekend will affect South Africa’s economy in the longer term. Jacob Zuma, the African National Congress leader who is set to become president after elections next year, is widely expected to...