We publish this daily rand news update of the rand to dollar rates and factors which influence foreign exchange markets, to help you make better decisions whether you send money, receive money or want the latest money transfer news.
The South African rand is trading in the 14.3000 level on opening today. Last week the rand traded mostly above the 14.00 mark, but the currency quickly moved up into the 14.30s. the international currency market is also showing signs of strain with pressure coming from a strong USD. The predicted trading range for the rand today is between 14.2000 and 14.5500.
Asian stocks slipped on Monday as investors are still recovering from the aftershock of the U.S. Federal Reserve’s announcement last week, while the Treasury yields showed a decline and 30-year yields dropping below 2%. Gold prices showed an increase in price after last week’s 6% drop.
South Africa has recorded 13 155 more infections over the past 24-hour cycle and 112 more fatalities. The country’s recovery rate is now at 90.4% and a positivity rate of 23.7%. The country’s vaccination programme is fairing well with just over 2 141 000 people who have received at least one dose of the Covid-a9 vaccine so far.
Foreign Exchange Rates
At time of writing:
- The Rand traded at 14.3277 versus the dollar.
- GBP: 19.80
- Euro: 17.02
- Gold: 1778 USD
- Bitcoin: 33 099 USD