The rand strengthened on Friday as the dollar remained weak, amid optimism over a potential US-Iran peace deal that could ease concerns about rising inflation and high interest rates.
The rand was trading at 16.34 against the dollar, up 0.4% from Thursday’s close, after remaining flat earlier in the session.
Gold prices remained stable on Friday and were on track for a fourth consecutive weekly gain.
However, markets were cautious, carefully evaluating whether progress in US-Iran negotiations would be sustained, given its potential impact on oil prices, inflation, and global risk appetite.
Analysts noted that traders are waiting to see what happens next. On the Johannesburg Stock Exchange, the Top-40 index rose by 0.5%.
Additionally, South Africa’s benchmark 2035 government bond showed improvement, with the yield decreasing by 5 basis points to 8.42%.
Next week, investors focused on domestic matters will be looking forward to the release of inflation and retail sales data.
As of Saturday, 18 April, the rand is trading at R16.32 to the dollar, R22.06 to the pound, and R19.20 to the euro. Gold is currently valued at $4,831.23 per ounce, while oil prices have risen to $90.38 per barrel.
5 important things happening in South Africa today
End of the line for intrusive spam calls: Parks Tau has amended the Consumer Protection Act to protect consumers from spam calls. A register of direct marketers will be established, with penalties for those who don’t register. [Business Day]
AFlySafair halts flights to KuGompo City: FlySafair has noted that its Lanseria-King Phalo Airport (KuGompo City) route has been paused due to operational constraints. FlySafair chief marketing officer Kirby Gordon confirmed that the airline continues to review its networks based on demand amid surging fuel prices [FlySafair]
Eskom announces wage increase: Eskom has announced the successful conclusion of its 2026 wage negotiations, resulting in the signing of a multi-year collective agreement to 7% annual salary increases for bargaining unit employees. [MyBroadband]
SARS fighting a losing battle: SARS has warned the National Treasury that funding constraints are limiting its efforts to combat syndicates in the growing illicit economy, which now accounts for 10% of GDP. [Times Live]
City of Cape Town targets short-term rentals: The City of Cape Town has proposed new draft amendments to its Rates Policy, specifically targeting the city’s short-term rentals market. [Daily Investor]
