South African Finance Minister Pravin Gordhan reacts during a media briefing in Sandton near Johannesburg March 14, 2016. REUTERS/Siphiwe Sibeko/File Photo(reuters_tickers)
JOHANNESBURG (Reuters) - South African President Jacob Zuma said on Thursday he has full confidence in Finance Minister Pravin Gordhan, who is under police investigation over a suspected spy unit at the tax service.
Zuma said he could not intervene in the investigations despite the negative impact the probe has caused on the economy, according to a statement released by the presidency.
The rand, which had tumbled since Tuesday in response to the investigation, extended gains to 1.3 percent after Zuma's statement.
(Reporting by James Macharia; editing by John Stonestreet)