The Rand is currently trading at R19.04 per American dollar. The weaker Rand of the past few weeks is still due to the Dollar trading much stronger due to possible further interest rate hikes that could be announced soon. This could also cause our local interest rates to be adjusted upwards.

However, the Chinese government has lowered interest rates to give their economy a boost, which has sparked additional demand for commodities. As a result, Brent oil prices have also risen slightly over the weekend, with the latest price at $86 per barrel.