The rand weakened slightly to roughly 17.3 per USD, retreating from recent one-year peaks of 17.1 per USD, despite a softer dollar, amid profit-taking following gold’s historic rally sparked by increased demand for safe-haven assets. At the same time, investors assessed poor industrial data showing a second monthly decline in August. On a positive note, the National Treasury said South Africa is on track to meet its main fiscal targets this year, stabilizing public debt and boosting the primary budget surplus. Finance Minister Enoch Godongwana will present the mid-year fiscal review on 12 November. Meanwhile, SARB Governor Lesetja Kganyago said on 9 October that the central bank and Treasury have agreed on lowering the inflation target, aiming at the bottom of its 3% to 6% range, though the timing remains under discussion. Kganyago has long advocated a lower target, arguing the current range undermines South Africa’s economic competitiveness.