At 2:49pm the South African rand was trading at R11.97.
That is the rand’s strongest level in 2.5 years.
Investor sentiment around politics in South Africa has vastly improved since the election of Cyril Ramaphosa as ANC president and, more recently, the appointment of a new board at Eskom.
Ramaphosa’s tough stance on corruption, and talk of repairing state-owned entities and public finances is boosting the currency and South African assets.
This article first appeared on 702 : Rand breaks through R12/dollar, strongest level in 2.5-years