Rand News Update │ Rand stable at 14.30 level

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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 stable at 14.3000 level. Yesterday’s session was once again a very limited even though the USD is still being preferred. The rand traded in a range between 14.3050 and 14.4425. Concerns are increasing whether the global economic are recovering at a sustainable rate as positive Covid-19 cases continue to increase worldwide. The predicted trading range for the rand today is between 14.1500 and 14.6500.

South African stocks slipped on Thursday, as the Delta coronavirus variant are spreading. The spike of positive cases in the country has overwhelmed hospitals, especially in Gauteng. Acting health minister Mmamoloko Kubayi-Ngubane announced on Friday that people aged between 35 and 49 years old can register to be vaccinated and the vaccination process are planned to start from 1 August 2021.

Asian shares decreased to a two-month low on Friday, and it will be their worst week since February. Stock markets are taking a knock as new waves of Covid-19 all over the world could delay a worldwide economic recovery. Gold increased and is on course for a third week of weekly gains as a decline in U.S. Treasury yields boosted the metal’s demand.

Foreign Exchange Rates

At time of writing:

  • The Rand traded at 14.2646 versus the dollar.
  • GBP: 19.69
  • Euro: 16.89
  • Gold: 1803 USD
  • Bitcoin: 32 844 USD

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