Bad news for people wanting to go away for Easter, and major trade union calls out Dawie Roodt
The rand strengthened on Monday, as a softer dollar helped offset fading hopes of a near-term interest rate cut by the US Federal Reserve due to the elevated energy prices.
The rand traded at 16.77 against the dollar, more than 1% stronger than its previous close. The greenback was down 0.4% against a basket of currencies.
Gold prices, a key South African export, were steady on Monday after recovering from an earlier near 1% drop, supported by a softer dollar.
South Africa’s benchmark government bond maturing in 2035 strengthened, with its yield declining by 2 basis points to 8.91%.
Later this week, local investors will focus on the February inflation data and January retail sales figures.
A recent survey indicated that South African inflation expectations continued to decline in the first quarter of this year, with the average forecast for inflation over the next five years reaching a record low.
On the Johannesburg Stock Exchange, the Top-40 index was last up 1.3%.
The rand is currently trading around R16.73 to the dollar, closing higher after a gruelling week. The rand is at R22.23 to the pound and R19.21 to the euro.
In commodities, oil prices are still above $100 a barrel, currently at $103.8, while gold remains above $5,000 at $5,022.66 per ounce.
5 important things happening in South Africa today
Bad news for people wishing to go away for Easter: South Africans planning to travel long distances during the upcoming Easter Weekend should be prepared to spend significantly more on some of the country’s most popular routes. Given the concerning fuel price outlook for next month, motorists planning to travel long distances over the weekend should fill up their tanks by Tuesday, March 31, 2026. [MyBroadband]
PSA calls out Dawie Roodt: Renowned economist Dawie Roodt delivered a sharp critique of public servants in the country, describing them as a parasitic force that is bankrupting the nation. Roodt argued that the average civil servant earns more than R50,000 per month, which he believes is significantly higher than the value they provide. The Public Servants Association of South Africa (PSA) slated Roodt’s comments, calling them extremely concerning. It said Roodt’s comments demonstrate a lack of understanding of the realities under which public servants perform their duties. [DailyInvestor]
Internal sabotage declared in Pretoria: Sifiso Mdakane, the Director-General of Public Works, has raised concerns about incidents of sabotage reported at the department’s head office. He accused certain individuals of tampering with the electricity and water infrastructure, which has led to outages and disrupted operations at the CGO Building in Pretoria. [TimesLive]
Interest rate freeze in South Africa: Surging oil prices triggered by the Middle East conflict are likely to push South African inflation higher and see policymakers keep interest rates unchanged for months, according to Morgan Stanley. [Moneyweb]
Floods blocking entry to the Kruger National Park: Rising river levels are disrupting access to several camps in northern Kruger National Park, Limpopo, due to ongoing flooding from heavy rainfall. SANParks reports significant increases in the Shingwedzi and Luvuvhu river systems, with more rain expected this week. The area remains particularly vulnerable following heavy rains earlier in 2026 that saturated the river catchments. [EWN]
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