In the run-up to the NEC's first meeting yesterday, it was believed that the matter would be addressed in relation to the future of President Jacob Zuma as the head of state.
A statement released by the Presidency Republic of South Africa on Tuesday stated the two Presidents will meet at Dr. John Dube residence in Durban.
But talks of a motion to remove Zuma being forced into the agenda have been gaining momentum.
"The Zuma trigger today gives a glimpse of how the rand will react if Zuma does step down early, although this possibility is increasingly being priced in", said Christopher Shiells, a senior emerging market analyst at Informa Global Markets.
"If Zuma is smart, he will take this deal", Schrire said.
Officially the meeting is to discuss the January 8 anniversary statement to be delivered by Ramaphosa on Saturday.
"Attacks on President Jacob Zuma have never been attacks on him as an individual, but they are particularly driven by the intention to divide the African National Congress". He's spent years fighting a bid by opposition parties to have those charges reinstated and fending off allegations that he allowed members of the Gupta family to influence cabinet appointments and the award of state contracts.
The beleaguered leader has faced growing pressure to resign before his term as president ends in 2019.
Zuma may have warded off an ouster bid by agreeing to the establishment of a commission headed by a judge nominated by Chief Justice Mogoeng Mogoeng to investigate the claims that the Guptas had wielded undue control over the state.
The rand has rallied since mid-December, supported by investors' hopes that the newly elected leader ANC head Cyril Ramaphosa would push through business-friendly policies.
At 1430 GMT, the rand was up 0.28 percent to 12.3500 against the dollar from a close of 12.3800 overnight in NY.