Cape Town - The rand tanked 2.93% within minutes after the news that Finance Minister Pravin Gordhan has been served a formal summons, believed to be for fraud.
The summons was also served on former Sars commissioner Oupa Magashula and former deputy Sars Commissioner Ivan Pillay.
The rand is under pressure, said TreasuryOne, trading up at R14.20 from R13.90 within minutes of the news.
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