Investors were relieved yesterday after South Africa's anti-illegal immigration protests were fairly peaceful, with the local currency not reacting adversely.
Instead, the rand strengthened after thousands of demonstrators marched through cities including Durban, Johannesburg and Cape Town without the widespread violence or disruption some investors had feared.
The muted market reaction came despite heightened concern ahead of the demonstrations, which were organised by the March and March movement and centred on demands for government to remove undocumented immigrants from South Africa.
The campaign comes against a backdrop of persistently high unemployment, with youth unemployment remaining above 40%.
March and March leader Jacinta Ngobese-Zuma has since vowed that supporters will return to the streets every Thursday until government responds to the group's demands.
