The rand, which weakened all the way to R11.75 to the dollar on Tuesday after Parliament passed a motion to look at changing the Constitution to allow the expropriation land without compensation, was trading at R11.73/$ on Wednesday morning. The rand had recovered to R14.34 from R14.40 to the euro and R16.30 from R16.35 to the pound by 6.30am. The local currency slid at about 5.12pm on Tuesday after a motion brought by the EFF to review the Constitution was passed by 241 votes in favour versus 83 votes against. Reuters reported the ANC supported the motion with some amendments. Its deputy chief whip, Dorries Dlakude, said the party "recognises that the current policy instruments, including the willing buyer willing seller policy and other provisions of section 25 of the Constitution may be hindering effective land reform".
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