The rand fell to R13.29 to the US dollar on Thursday evening on reports that President Jacob Zuma has started to reshuffle his Cabinet.

Finance Minister Pravin Gordhan and his deputy look set to get the boot, with unconfirmed reports that Sfiso Buthelezi and Brian Molefe will replace them after Zuma summoned the rest of the ANC’s top six earlier in the evening to an urgent meeting.

Cyril Ramaphosa‚ Baleka Mbete‚ Gwede Mantashe‚ Jessie Duarte and Zweli Mkhize, were called to a meeting at short notice to the presidential home, Mahlambandlopfu, at 18:30.

Some ministers were informed to be on standby.

News24 has learnt that nine ministers and six deputy ministers will be affected by the reshuffle.

Political analyst Daniel Silke told Fin24 the extent of this cabinet reshuffle – if it involved as many as 15 individuals – is more akin to putting down an internal revolt than a cabinet reshuffle in the classic sense of the world.

“Zuma looks set to stake his future – and the cohesiveness of the broader Alliance – on what could be the most far-reaching cabinet reshuffle in recent history,” he said in an emailed note.