The currency’s moves have been driven by global factors, but more ratings shifts can reverse gains.
Share prices have been collapsing as investors have watched the inept bumbling of Zuma and his associates with increasing trepidation and horror.
The rand has declined after Pravin Gordhan was replaced as finance minister and new leadership appointed in the mining and energy ministries.
The rand stumbled for a second day as inflation rose and unrest in Ukraine and Thailand caused investors to sour towards emerging markets.
The finance minister says government is monitoring the currency but a rate hike has done little to stem the depreciation of the rand.
South Africa’s economic indicators have been a mixed bag, with some numbers spelling doom and gloom, and others suggesting a better year than last.
Increased sales and a weak rand saw the world’s biggest platinum producer return to profit last year, it announced on Wednesday.
The rand has dropped to fresh five-year lows as majority union Amcu decides whether to strike at the country’s three biggest platinum mines.
South African bonds have been pulled down by the depreciating rand.