# Rand weakens as oil prices rise and rate-hike fears support dollar

> The rand weakened to about 16.40 per dollar on September 28 as Brent crude rose toward $108 a barrel and gold fell more than 3% to about $4,150 an ounce. Expectations of further US rate increases also supported the dollar.

- Date: 2026-09-28 · published 2026-09-28T12:00:00.000Z
- Category: macro · region South Africa · magnitude medium
- Page: https://feedsoft.ai/events/17765-rand-weakens-as-oil-prices-rise-and-rate-hike-fears-support-dollar
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Higher crude and a weaker rand raise South Africa's import costs, and the stronger dollar tends to tighten global commodity financing, which pressures feed importers.

## Read by commodity

- BRENT: bullish ▲
- USDZAR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2021-06-30 | [Rupee weakens further amid strong dollar, rising oil prices - Daijiworld.com](https://feedsoft.ai/events/46886-rupee-weakens-further-amid-strong-dollar-rising-oil-prices-daijiworld-com.md) | +0.1% | -0.5% |
| BRENT | 2022-02-28 | [Ringgit opens firmer against US dollar, supported by oil prices \| Malay Mail](https://feedsoft.ai/events/42959-ringgit-opens-firmer-against-us-dollar-supported-by-oil-prices-malay-mail.md) | +23.1% | +23.8% |
| BRENT | 2026-10-28 | [South African rand softens as oil prices rise, Fed in focus \| CNBC Africa](https://feedsoft.ai/events/17333-south-african-rand-softens-as-oil-prices-rise-fed-in-focus-cnbc-africa.md) | -4.7% | — |
| BRENT | 2022-12-16 | [Rising oil prices and import rates to India are supporting vegetable oil quotes](https://feedsoft.ai/events/38344-rising-oil-prices-and-import-rates-to-india-are-supporting-vegetable-oil-quotes.md) | -1.8% | +2.7% |
| BRENT | 2026-03-30 | [South African rand weakens as Middle East conflict elevates oil prices \| CNBC Africa](https://feedsoft.ai/events/20456-south-african-rand-weakens-as-middle-east-conflict-elevates-oil-prices-cnbc.md) | +1.2% | -5.1% |

## Sources

- thenational.co.za: https://thenational.co.za/news/2026-09-28-rand-weakens-as-oil-prices-rise-and-rate-hike-fears-support-dollar/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.