The Rand strengthened by more than a percent on the first day after the much anticipated cabinet announcement was made last night.
The currency trading around R18.01 to the US dollar from R18.19 to the US dollar in the previous trading session.
Market sentiment improved on optimism as investors anticipate that economic reforms will accelerate to address the energy crisis, improve its failing ports and railways, and mitigate crime and corruption.
President Cyril Ramaphosa announced several changes to the structure of the ministries.
This includes splitting mineral resources and energy, and doing away with the public enterprises ministry.
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Негізгі бет 7th Administration | Rand gains following new cabinet announcement
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