Bank of America wins big against SARS, and the one province with 139 ambulances for 7.2 million people
The rand was steady early on Wednesday, as investors await U.S. inflation data, which could set the tone for commodity-linked currency.
The rand was trading at 15.93 to the dollar on Wednesday, unchanged from its previous close.
The dollar remained steady ahead of the release of the Personal Consumption Expenditure (PCE) price index for July.
“The rand is benefiting from a lower dollar and steady to better commodity prices,” Adam Phillips of Umkhulu Treasury said.
In the absence of major domestic economic data, the rand, like other risk-sensitive currencies, tends to be driven by global factors, including U.S. economic data releases and policy developments.
South Africa’s benchmark 2035 government bond was slightly firmer in early deals, as the yield fell 1 basis point to 8.435%
On Thursday, 27 August, 2026, the rand was trading at R15.95 to the dollar, R21.68 to the pound, and R18.59 to the euro. Gold is trading at $4,620.00 an ounce, while oil prices were at $87.47 a barrel. [Reuters]
5 important things
Bank of America wins big against SARS in court: Bank of America has scored a major victory in South Africa after the Constitutional Court limited the Competition Commission’s ability to prosecute foreign banks for alleged anticompetitive conduct carried out offshore. [DailyInvestor]
South African province has only 139 ambulances for 7.2 million people: The Eastern Cape Department of Health revealed that just 139 of its 350 ambulances are operational, meaning it has only 1 ambulance for every 52,000 people. [Newsday]
Sandton property investors look beyond offices as market diversifies: After a prolonged oversupply in the office space market, Johannesburg property investors are seeking opportunities outside the central business district. [BusinessDay]
Meta Platforms agrees to pay R266-billion settlement in social media addiction trial: Meta Platforms has agreed to pay up to $16.7 billion to settle a landmark social media case with multiple US states, according to a court filing Wednesday. [MyBroadband]
Over 1,600 businesses shut down in South Africa: 1,601 businesses have been liquidated in South Africa in 2026, but the total number of liquidations is down year-on-year. [BusinessTech]
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