South Africa's president has replaced the country's finance minister for the second time in four days.

On Sunday, President Jacob Zuma's office announced that recently appointed finance minister David van Rooyen will be replaced by Pravin Gordhan, who previously served as finance minister from 2009 to 2014.

In a statement, Zuma said he received many proposals to reconsider his decision to install van Rooyen, a former mayor and member of parliament who served on financial committees.

Van Rooyen was sworn in last Thursday, after Zuma's office announced late last Wednesday that sitting finance minister Nhlanhla Nene was fired.

The abrupt announcement to replace Nene saw South Africa's currency reach record lows against the U.S. dollar.

The South African president's decision to fire the finance minister last week saw widespread criticism.