Good news about US tariffs on South Africa, and major changes coming to WhatsApp
The rand was subdued on Wednesday, tracking other emerging-market currencies as investors awaited the U.S. Federal Reserve’s interest-rate announcement.
Market expectations indicated a 68% chance that the Federal Reserve would hold, while others expected a 25-basis-point hike.
The rand, like many other emerging market currencies, is heavily influenced by global factors as well as domestic economic data.
The Federal Reserve ultimately decided to hold interest rates, with a split decision within the Federal Open Market Committee (FOMC).
South African Reserve Bank (SARB) data from Wednesday indicated that M3 money supply growth had slowed to 9.31% in June from 9.59 in May.
In the private sector, credit growth had eased to 7.8% from its previous 8.57%, undershooting the 8.35% forecast made by Reuters.
Investors have been carefully watching the conflict in Iran, after renewed attacks between both sides threaten to push oil prices higher.
Valterra Platinum saw its half-year profit soar by roughly 1,600% after high platinum prices and strong production and sales volumes supported its growth.
This made the company the highest performer on both the JSE top 40 and all shares, rising more than 7%.
On Thursday, 30 July 2026, the rand was trading at R16.68 to the dollar, R22.26 to the pound, and R19.10 to the euro. Gold is trading at $4,044.32 an ounce, while oil prices were at $89.80 a barrel. [Reuters]
5 important things
Good news about US tariffs on South Africa: South Africa’s agricultural sector is relieved by new US export tariffs, which are an improvement over previous ones. Agbiz Chief Economist Wandile Sihlobo noted that these new tariffs are still less punitive than those from 2025, which is a positive development. [DailyInvestor]
New features for WhatsApp in South Africa: WhatsApp has announced several new features, including the ability to make and receive audio and video calls via WhatsApp Web. [MyBroadband]
SARS sends a warning to anyone who filed a tax return this year: SARS has noted increasing use of AI among scammers to generate realistic-looking correspondence from the tax service. [BusinessTech]
Minister under siege over South African National Defence Force’s naval exercise with China and Iran: Minister of Defence and Military Veterans, Angie Motshekga, said that the Presidency is investigating South Africa’s naval exercise with China and Iran. [Newsday]
Committee to appeal order halting public hearings on Ramaphosa’s impeachment probe: Opposition parties argue that delays to Ramaphosa’s impeachment proceedings could create years of further delays. [BusinessDay]
Loading ...