{"id":48744,"date":"2026-10-22T10:02:44","date_gmt":"2026-10-22T08:02:44","guid":{"rendered":"https:\/\/www.channelafrica.co.za\/channelafrica\/?post_type=news&#038;p=48744"},"modified":"2026-10-22T10:02:44","modified_gmt":"2026-10-22T08:02:44","slug":"rand-pressured-by-rising-oil-prices-as-investors-weigh-budget-review","status":"publish","type":"news","link":"https:\/\/www.channelafrica.co.za\/channelafrica\/news\/rand-pressured-by-rising-oil-prices-as-investors-weigh-budget-review\/","title":{"rendered":"Rand pressured by rising oil prices as investors weigh budget review"},"content":{"rendered":"<div>The South African (SA) Rand weakened in early trade on Thursday, pressured \u200bby rising oil prices as investors \u200ccontinued to assess the government&#8217;s mid-year budget review, which included two months of temporary fuel \u200btax relief.<\/div>\n<div><\/div>\n<div>The Rand \u200btraded at 16.45 against the Dollar, roughly \u2060down 0.5% from its previous close<\/div>\n<div><\/div>\n<div>Oil prices \u200brose more than $1 a barrel on Thursday \u200bafter more Houthi attacks in Saudi Arabia stoked concerns over a broader escalation of conflict and further \u200bdisruptions to supplies from the Middle \u200bEast<\/div>\n<div><\/div>\n<div>SA imports most of its fuel, leaving \u200cit \u2060vulnerable to swings in global energy prices. Its regulated petrol price rose about 5% in September before surging 12% in October.<\/div>\n<div><\/div>\n<div>The \u200bgovernment will reintroduce \u200btemporary \u2060fuel levy cuts for two months from November, Finance Minister Enoch \u200bGodongwana said on Wednesday, in \u200ba $608 million effort to ease cost-of-living pressures.<\/div>\n<div><\/div>\n<div>SA&#8217;s benchmark 2035 government bond \u2060strengthened \u200bin early deals, as the \u200byield fell three basis points to 8.56%.<\/div>\n<div><\/div>\n<div>&#8211;Reuters&#8211;<\/div>\n","protected":false},"featured_media":14374,"template":"","meta":{"_acf_changed":false,"_members_access_role":[],"_members_access_error":"","_links_to":"","_links_to_target":""},"news-type":[44],"class_list":["post-48744","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"","published_date":"","news_description":"SA Rand weakened in early trade on Thursday","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/48744","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":2,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/48744\/revisions"}],"predecessor-version":[{"id":48746,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/48744\/revisions\/48746"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/14374"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=48744"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=48744"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}