South African rand sent lower by reports of possible cabinet reshuffle
South Africa's president was considering firing those ministers who supported calls for him to step down last year, defying his instructions, according to Bloomberg, who cited senior leaders of the African National Congress.
The report saw the US dollar snap higher in an initial reaction to 13.5822 versus the South African rand.
As of 1356 GMT the greenback was up by 0.90% to 13.48.
Zuma had reportedly told the ruling party's national executive committee he was considering the action and that government needed to improve its performance.
Among the officials which might be headed out the door were Tourism minister Derek Hanekom, Health Minister Aaron Motsoaledi and Publiw Works minister Thulas Nxesi, those same sources told the newswire.
However, one analyst believed the primary target of a cabinet reshuffle would be finance minister Pravin Gordhan.