Home Affairs changes its opening hours, and US Secret Service helps take down a South African cybercriminal
The rand was under pressure in early trade on Wednesday as higher oil prices fuelled inflation concerns, while the US Federal Reserve held interest rates steady.
The Fed opted to delay any changes to borrowing costs until after next week’s US midterm elections while it awaits further data on inflation, which the central bank said “remains elevated.”
Keeping US interest rates steady is generally a mixed-to-slightly positive development for the South African rand (ZAR) in the short term, though a hawkish stance from the Fed limits major gains.
The rand traded at 16.68 against the dollar, down 0.2% from its previous close.
Oil prices rose more than 1% on Wednesday after an attack on a refinery in Saudi Arabia renewed concerns about supply risks from the major exporter.
ETM Analytics said the rand could weaken beyond the 17.00-per-dollar level if rising oil prices and Fed-related pressures persist.
In the absence of major domestic data, the rand, like other emerging market currencies, tends to follow global factors, including US economic releases and geopolitical developments.
On the Johannesburg Stock Exchange, the Top-40 index was down about 0.2% in early trade.
South Africa’s benchmark 2035 government bond weakened in early trading, with yields rising 2 basis points to 8.6%.
On Thursday, 29 October 2026, the rand was trading at R16.62 to the dollar, R22.13 to the pound, and R18.51 to the euro. Gold is trading at $4,045.80, while oil prices are at $114.10 a barrel.
5 important things happening in South Africa today
Home Affairs changes its opening hours: The Department of Home Affairs (DHA) is extending operating hours at its offices to help eligible voters get the identity documents (IDs) they need ahead of next week’s local government elections. The department said its offices will operate from 8am until 6pm from 2 to 4 November. [EWN]
Secret Service helps take down a South African cybercriminal: The United States Secret Service worked with the South African Police to bring charges against an alleged South African cybercriminal and sextortionist. The 30-year-old man was arrested in Orlando West, Soweto, in July. He currently faces charges of sextortion, child abuse, fraud, murder, and money laundering in South Africa, according to US authorities. [MyBroadband]
SAA in deep trouble, again: South African Airways (SAA) has once again landed in financial trouble, needing a government guarantee to operate and unable to make full salary payments. [Daily Investor]
Salaries take a hit: South African take-home pay rose slightly in September, but fuel costs and inflation continued to erode purchasing power. PayInc’s index, covering 2.1 million earners, increased 0.3% month on month to R21,689. Inflation-adjusted pay rose 0.1% to R20,178 but remained 2.6% lower than a year earlier. [Business Day]
More companies shut down in South Africa: Another 250 companies have been liquidated in South Africa, taking the total for the year to 2,089 so far. [BusinessTech]
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