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Rand hits 4-month high as #ConCourt red cards President Zuma

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A cashier counts rand banknotes at the check out counter of a store in the Hatfield Plaza shopping center in Pretoria, South Africa. South Africa's Finance Minister Pravin Gordhan said he'll shore up public finances to regain market trust and show credit-rating companies the government is serious about managing debt. Photographer: Waldo Swiegers/Bloomberg
A cashier counts rand banknotes at the check out counter of a store in the Hatfield Plaza shopping center in Pretoria, South Africa. Photographer: Waldo Swiegers/Bloomberg

JOHANNESBURG, March 31 (Reuters) – South Africa’s Rand hit a near 4-month high against the dollar on Thursday as the country’s top court said President Jacob Zuma failed to respect the constitution when he ignored the instructions of an anti-graft watchdog to repay some of the $16 million spent on his private home.

At 0900 GMT, the rand traded at 14.8040 per dollar, 0.94 percent firmer from Wednesday’s New York and its strongest level since Dec. 9.

South Africa’s top court orders Zuma to repay portion of home upgrade

JOHANNESBURG, March 31 (Reuters) – South African President Jacob Zuma must repay the state some of the $16 million spent on upgrades to his private home, with Treasury determining the amount, the country’s top court ruled on Thursday.

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