The rand has rallied since mid-December, supported by investors' hopes that the newly elected leader ANC head Cyril Ramaphosa would push through business-friendly policies.
The terms of reference for the commission and the extent to which Zuma was able to influence these will be instructive.
Non-profit organisation Transform RSA on Wednesday sent a legal letter to the African National Congress (ANC) National Executive Committee (NEC) which served as "an urgent warning" against any intentions of removing President Jacob Zuma from office. It was hoped that his climb-down would lessen the chances of him being removed before the party's 106th anniversary celebrations this weekend, the people said. Here's what happened: Shortly before 6:00 am NY time, false reports suggested South African President Jacob Zuma had unexpectedly resigned.
Zuma's announcement comes the day before parliament is to take up a draft of a process for removing the nation's president from office.
"And the ANC meeting only ends tomorrow so there will be more headlines and that means rand volatility should continue", said trader at RMB, Jim Bryson.
"That matter was not for any discussion or debate", ANC Secretary General Ace Magashule said in response to a question about whether Zuma's future was discussed or would be raised. Calls to Bongani Ngqulunga, Zuma's spokesman, didn't connect.
Ramaphosa was said to be negotiating Zuma's resignation as head of state.
Mr Zuma has been accused of conspiring with a wealthy business family, the Guptas, to control lucrative state contracts.
The political turmoil over the numerous corruption allegations has hurt South Africa's economy, which briefly dipped into recession a year ago. The rand, for its part, eventually climbed back into positive territory and was up 0,3 percent to 12,3489 per dollar as of 8:47 am in NY.
Russian man smashes tank into supermarket to get booze
The incident occurred in the early morning hours when it is prohibited to sell alcohol, local news outlet HibInform reported . It's still unclear how the man was able to steal the tank, and how he had the operational knowledge to drive the vehicle.
Five-star Barcelona cruise through in Copa del Rey
Jordi Alba has assisted Lionel Messi for seven goals this season (in all competitions), more than any other Barcelona player. But Coutinho, dressed in a black shirt dotted with white stars, was in the stands at the Camp Nou for the first.