The rand spiked to R14.75/$ for just a brief moment on Thursday evening, after President Cyril Ramaphosa announced that Tito Mboweni had resigned as finance minister - and before he revealed that Enoch Godongwana was his replacement.

Godongwana, who has chaired the ANC's economic transformation committee for a decade and has often met with foreign and local investors, is a known quantity in the market, economists said on Friday as the dust settled on Ramaphosa's much-anticipated reshuffle...

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