Taxpayers getting crushed, and more fuel price surcharges hitting South Africa
The rand weakened on Wednesday as the safe-haven US dollar fell to six-week lows, with market attention focused on the possibility of renewed talks between the United States and Iran to end the war.
The risk-sensitive rand traded at 16.3650 against the dollar, down 0.2% from its previous close.
The US dollar hit nearly six-week lows on Wednesday, having given up almost all the gains made since the onset of the Iran war.
Signs of another round of talks between Washington and Tehran have lifted market risk appetite.
US President Donald Trump announced on Tuesday that discussions with Tehran about ending the war could resume this week.
Although talks held in Islamabad last weekend did not yield a breakthrough, markets remain hopeful that diplomacy might still lead to a resolution.
“With a possible second round of peace talks happening again in Pakistan later this week, operators are quietly positive,” said a treasury specialist.
“All of this is keeping markets fairly static, however, with a slightly risk‑on mood,” said currency strategists.
On the Johannesburg Stock Exchange, the Top-40 index was down 0.23%.
As of Thursday, 16 April, the rand is trading at R16.33 to the dollar, R22.15 to the pound, and R19.27 to the euro. Gold is currently valued at $4,828.14 per ounce, while oil is trading at $94.97 per barrel.
5 important things happening in South Africa today
Tax relief falls flat: Despite inflationary tax relief in the 2026 Budget, rising costs for medical aid, fuel, and electricity are eroding take-home pay, leaving many South African employees worse off in real terms. In 2026, for the first time in two years, income tax brackets were adjusted, delivering 3.4% inflationary relief. However, this still lags behind the actual inflation rate of 4.4% in 2024 and just outpaces 3.2% in 2025. [Daily Investor]
Surcharge for Transnet Port Terminals: Transnet Port Terminals will implement a new container-handling surcharge starting next month, due to rising fuel prices impacting South Africa’s ports. The initial surcharge will be R52 per container. [ENCA]
Minister of Agriculture claims FMD success: Minister of Agriculture John Steenhuisen claims early success in vaccinating cattle against foot-and-mouth disease, with no new outbreaks reported among those already vaccinated. [EWN]
Criminal charges laid against City Power officials: A dissatisfied contractor at Johannesburg’s City Power is filing criminal charges against senior managers, alleging that they attempted to extort R2 million from him. [TimesLive]
New crowdfunded solar business: Ipeleng Power Solutions (IPS) has launched in Johannesburg, providing affordable solar energy solutions through stokvel and crowdfunding models. [Mail&Guardian]
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