Expropriation without compensation could apply to farms, houses, and cars, and hijackers have a new target in South Africa
The rand saw little movement on Tuesday, as a strong dollar and lowering gold prices continue to put pressure on the currency.
The rand was trading at 16.74 to the dollar, similar to its value on Monday.
The dollar nearly reached a four-week high, as the market watches for potential interest rate hikes in the U.S.
Economists are saying a 25 basis point increase is possible for the U.S. and are predicting a 95% chance of an increase by September.
Gold, one of South Africa’s key exports, fell by 1.1%, placing pressure on the rand alongside a strengthening dollar.
TreasuryONE currency strategist, Andre Cilliers, said, “Pressure on the rand is still coming from market disappointment due to the lack of action on rates by the SARB, a lower gold price, and a stronger dollar”
Many economists were surprised by the Reserve Bank’s decision to hold interest rates, as it believed existing policies were restrictive enough.
In South Africa, data showed that the country’s composite leading business cycle indicator fell 0.3% between May and June.
South Africa’s benchmark 2035 government bond strengthened, as the yield dropped by 8.5 basis points to 8.505%.
On Wednesday, 29 July 2026, the rand was trading at R16.72 to the dollar, R22.23 to the pound, and R19.06 to the euro. Gold is trading at $4,027.95 an ounce, while oil prices were at $87.33 a barrel. [Reuters]
5 important things
Expropriation without compensation in South Africa can apply to farms, houses, and cars: A legal expert has warned that South Africa’s Expropriation Act may apply to all property, including farms, houses, cars, or businesses. [DailyInvestor]
The car now officially a new target for hijackers in South Africa: Discovery Insure has informed its Toyota Corolla Cross customers that the vehicle is now considered high risk for hijacking and theft in South Africa. [BusinessTech]
Senior politician sends a message about data bundles that expire in South Africa: Chairperson of the Parliamentary Portfolio Committee on Communications and Digital Technologies, Khusela Diko, has said there is no technical reason for mobile data to expire in South Africa. [MyBroadband]
Testing found E. coli levels 772% above the benchmark in a large South African city: Many cities and towns in the Eastern Cape suffer from sewage pollution, threatening public health and tourism across the province. [Newsday]
National Treasury to release R 7.1 billion withheld municipal equitable share: The National Treasury is releasing the previously withheld equitable shares to municipalities, despite their situations not improving. [EWN]
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