Rand News Update │ Rand making gains below 14.20 level


We publish this daily rand news update of the rand to dollar rates and factors that 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 making good gains below the 14.2000 level. It reached its best level in the New York session last night at 14.1500. The demand for the USD increased yesterday which saw the local unit trade weaker and reaching a high of 14.2850 for the day. The rand has been holding steady the last few days even though local factors are mostly negative. Markets will trade carefully heading into the weekend. The predicted trading range for the rand today is between 14.0500 and 14.4500.

Asian shares and gold prices increased on Friday, as investors are waiting on U.S. inflation data after receiving mixed indicators from Federal Reserve officials on interest rate hikes.

South Africa is fast approaching a third wave of the Covid-19 pandemic as 16 078 new Covid-19 cases were reported yesterday with 148 people who have died. The National Institute for Communicable Diseases announced yesterday that the test positivity rate is at 24.5% and daily vaccine jabs finally hitting the 100 000 per day mark.

Rand making gains below 14.20 level

Foreign Exchange Rates

At time of writing:

  • The Rand traded at 14.1482 versus the dollar.
  • GBP: 19.67
  • Euro: 16.89
  • Gold: 1780 USD
  • Bitcoin: 34 107 USD

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