Nationwide strikes to hit South Africa this week, and government wants R300 million for international properties
The South African rand remained steady early on Tuesday, despite a stronger US dollar, even as declines in gold and platinum prices weighed on South Africa’s export earnings and terms of trade.
The rand traded at 16.6325 against the dollar, showing little change from its previous close of 16.6497.
The US dollar index, which measures the dollar against a basket of currencies, edged up due to reduced expectations of a Federal Reserve interest rate hike this month.
Gold and platinum, which are key exports for South Africa, also declined on Tuesday, further pressured by a stronger dollar.
ETM Analytics cautioned that as an economy, South Africa remains vulnerable to further shocks.
However, the full effects of these challenges can sometimes be obscured by lower foreign participation.
This should not be mistaken for an indication that South Africa is on the right track,” the analysts stated in a report.
In early trading, South Africa’s benchmark government bond maturing in 2035 strengthened, with its yield down 3.5 basis points to 8.85%. [Reuters]
On Wednesday, 7 October 2026, the rand was trading at R16.58 to the dollar, R21.97 to the pound, and R18.63 to the euro. Gold is trading at $4,137.40, while oil prices were at $101.60 a barrel.
5 important things happening in South Africa today
Nationwide strikes to hit South Africa: Labour federation Cosatu warned that it will commence nationwide strikes on Wednesday, 8 October, to highlight the plight of workers as part of efforts to mark World Day for Decent Work, with demonstrations planned for Johannesburg, Tshwane, North West, and the Western Cape. [Business Day]
R300 million for international properties: The Department of International Relations and Cooperation (DIRCO) stated that it requires over R300 million annually to maintain its foreign mission buildings, with at least 30% of its overseas properties reported to be in poor condition. [EWN]
One department spent R2.4 billion on chartered flights: The Minister of Defence and Military Veterans, Angie Motshekga, would not provide details about R2.4 billion spent on chartered flights. [Newsday]
More Gautrains for R15 billion: France’s Alstom will build eight upgraded Gautrain trains at its facility in Ekurhuleni. It is a member of the Sihamba Sonke Mobility (SSM) consortium that will oversee the rail network for the next 15 years. [MyBroadband]
Criminals targeting petrol stations in South Africa: Security experts warn South Africans that forecourts remain prime hotspots for opportunistic criminals who exploit moments of distraction. [BusinessTech]
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