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VAT could be slashed to 6%, and another major world leader snubs South Africa | SA News

Malcolm Libera
 ·14 Nov 2025

South Africa’s currency, stocks, and bonds continued to rally on Thursday as investors responded positively to signs of fiscal discipline following the government’s medium-term budget policy statement.

The rand temporarily dropped below the significant R17/USD mark for the first time since February 2023, reaching 16.955—its strongest level in more than two years.

The JSE’s Top 40 index increased by 2.3%, while the yield on the 2035 government bond fell by six basis points to 8.6%, the lowest level since early 2021.

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