The rand slid against the dollar on Wednesday morning on fears that Gordhan will be arrested..
“Yes, we can confirm that there is an investigation... It’s at an advanced stage,” Hawks spokesman McIntosh Polela told the Mail & Guardian.
The newspaper reported that Cele’s phone was bugged by his own intelligence division, and that the interception began in late 2010.
Approached to comment on the allegations, Cele said he had not initially taken the matter seriously.
“I honestly dismissed the rumour of this as a bad joke when they reached my ears a year or so ago.
“I now have good reason to ask to ask the inspector general of intelligence to investigate this matter... a brazen violation of my rights,” Cele said.