The Bank of Namibia (BoN) has announced a 25-basis point increase in the repo rate to 6.75%. The move came in light of rising inflation, global economic uncertainty, and the need to protect the currency peg between the Namibian dollar and the South African rand.

The Bank of Namibia has announced that it will maintain the repo rate at 6.50%.

The strong performance of the Namibian Dollar (NAD) against the US Dollar (USD) in July, at N$18.21 to US$1, is among many factors that resulted in fuel prices remaining unchanged for August.

Motorists will once again breathe a sigh of relief as both petrol and diesel grades will remain unchanged.