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 significantly weaker and is trading in the 14.4000 level. Trading was mostly subdued in yesterday’s session, until U.S. data released causing the rand to spike. It reached its highest level of 14.4700 for the day. The predicted trading range for the rand today is between 14.2500 and 14.7500.
The rand, along with other emerging market currencies traded weaker during the week. Market focus today will be mostly on the U.S. data prints, which will set the atmosphere for the rest of the month. The rand will mostly trade cautious today and liquidity will be tested.
The third wave of Covid-19 is in full swing in the country. The National Institute for Communicable Diseases said a total of 21 584 new Covid-19 cases have been reported in the last 24 hours. There have also been 382 new Covid-19 related deaths recorded, which bring the total fatalities to 61 029 to date.
Foreign Exchange Rates
At time of writing:
- The Rand traded at 14.4625 versus the dollar.
- GBP: 19.89
- Euro: 17.11
- Gold: 1782 USD
- Bitcoin: 33 377 USD