Alarm bells ring over car recalls, and the ANC announces coalition picks in South Africa
The rand reached a seven-month low on Friday as investors assessed US producer inflation data and prepared for the upcoming local inflation report and the central bank’s interest rate decision.
The rand was trading at 16.9750 against the dollar, which is approximately 1.2% lower than its previous close.
This decline brings it close to the 17-per-dollar mark, its weakest level since April.
US producer prices saw an increase in October, reflecting the largest annual growth in four years and reinforcing expectations that the Federal Reserve may continue to raise interest rates after next month’s widely anticipated hike.
Like other risk-sensitive currencies, the rand is often influenced by global factors, including US economic data and monetary policy.
Statistics South Africa is set to release the consumer inflation data for October on Wednesday, followed by the South African Reserve Bank’s monetary policy decision on Thursday.
During its September meeting, the central bank raised interest rates by 25 basis points, citing persistent price pressures stemming from the war in Iran and the need for tighter policy to keep inflation expectations in check.
On the Johannesburg Stock Exchange, the Top-40 index was down 0.7% at the last check. [Reuters]
On Saturday, 14 November 2026, the rand was trading at R16.98 to the dollar, R22.36 to the pound, and R18.66 to the euro. Gold is trading at $3,878.55, while oil prices are at $95.84 a barrel.
5 important things happening in South Africa today
Alarm bells ring over car recalls: South Africa is experiencing an increasing number of vehicle recalls, raising significant concerns according to the National Consumer Commissioner (NCC). Recently, Chery announced recalls affecting nearly 24,000 vehicles, which include the Chery Tiggo 4, Omoda C5, and Chery Tiggo 8 Pro Max 2.0. [eNCA]
ANC announces coalition picks: The ANC’s National Executive Committee has authorised its negotiation teams to engage in coalition talks with all parties in South Africa, following its disappointing performance in the 2026 local elections. [BusinessTech]
R17 million fine for Standard Bank: The Financial Sector Conduct Authority (FSCA) has imposed a financial penalty of R17 million on Standard Bank of South Africa (SBSA) for non-compliance with the Financial Intelligence Centre (FIC) Act, specifically for failing to adequately conduct customer due diligence. [DailyInvestor]
Households to brace for financial pressures: South African households may face growing financial pressure in early 2027 from high inflation and fuel prices, even as the first half of the year shows strong financial indicators. [Newsday]
Trouble for South Africa’s biggest port: In August, the Port of Durban began transitioning to the Navis N4 Terminal Operating System, which caused a 30% drop in operations and container processing.[MyBroadband]
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