Planned name change for unique Eastern Cape Town and Shoprite beats its biggest competitors
The rand firmed on Wednesday, coming close to a five-month high as U.S. inflation data slightly weakened the dollar.
Economists are predicting that the Federal Reserve will keep interest rates unchanged, based on the data.
The rand was trading at 16.13 to the dollar on Wednesday, approximately 0.3% stronger than its previous close and its strongest since 2 March.
U.S. consumer inflation increased slightly in July, potentially weakening the argument for interest rate hikes next month.
The Federal Reserve’s decisions will affect the rand, which, like other risk-sensitive currencies, is influenced by global policy shifts.
In South Africa, investors are awaiting June’s mining production data, which is due on Thursday, to give clues about the sector.
South Africa’s benchmark 2035 government bond weakened, with the yield rising by 13 basis points to 8.435%.
On Thursday, 13 August, 2026, the rand was trading at R16.15 to the dollar, R21.79 to the pound, and R18.61 to the euro. Gold is trading at $4,396.40 an ounce, while oil prices were at $88.75 a barrel. [Reuters]
5 important things
Name change of a unique 168-year-old town in South Africa planned: A political party has opposed the renaming of towns across the Eastern Cape, including Lady Grey, a unique town nestled at the foot of the Witteberg mountains. [Newsday]
Shoprite opened more stores in one year than Pick n Pay, Spar, and Woolworths combined: Shoprite opened a net 262 new stores in its 2026 financial year, more than Pick n Pay, Woolworths, and Spar combined in their latest financial years. [DailyInvestor]
Possible forged signature found in probe into appointment of former FPB CEO: Communications Minister Solly Malatsi said a probe into the appointment of the Film and Publication Board’s former CEO, Mashilo Boloka, found a reference that may have contained a forged signature. [MyBroadband]
NSFAS faces R15bn student-funding gap: NSFAS is facing a shortfall, as the fund cannot afford to assist all qualifying students in South Africa. [ENCA]
New laws sent to Ramaphosa to sign: New laws have been sent to the president’s desk, intended to change how municipalities and wards are demarcated. [BusinessTech]
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