The South African Rand (ZAR) has slightly strengthened as delegates cast their vote for the next ANC President.
The local currency was already up by 3% at the close of trading on Friday.
It’s been hovering around the R13.07 mark to the US dollar, a level last seen in September.
The market is pricing in a Cyril Ramaphosa win as the next ANC leader as he’s seen as a more investor-friendly candidate.
Analysts also expect a Ramaposa win to prompt a rally in the rand to levels below R13 to the dollar.
They predict that a Nkosazana Dlamini Zuma win could see the currency touch levels of R14.57 to the greenback.