Jacob Zuma

South Africa's President Jacob Zuma has named a third finance minister in less than a week, in a move that has boosted the country's currency.

On Wednesday last week, President Zuma replaced Nhlanhla Nene with a little known MP David van Rooyen, which sent the Rand to record lows.

But less than a week into the job, amid growing concern over the state of South Africa's economy, Zuma has brought back Pravin Gordhan, who filled the role between 2009 and 2014. Analysts are suggesting that the uncertainty surrounding Mr van Rooyen in his short time as finance minister may have done more damage to the global perception of South Africa and its economy.

Economic growth is slow, unemployment is at 25%, and its credit rating has been reduced to one level above "junk" by ratings agency Fitch.