Rand News Update │ Rand steady at 14.3000 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 a level between 14.3000 to 14.4000. The local unit reached its best level of 14.2300 yesterday however the U.S. released improved ISM data that caused the rand to retreat and ended the session in the high 14.30s. The predicted trading range for the rand today is between 14.2000 and 14.5500.

The foreign exchange markets will be vigilant today ahead of the non-farm payroll data released tomorrow from the U.S. There is a slight chance that President Ramaphosa announce a cabinet reshuffle today, therefore some market volatility will take place.

The World Health Organisation has urged countries to wait at least two months before administering Covid-19 vaccine booster shots therefore the goal of vaccinating 10% of every country’s population by the end of September is achievable. The Centre for systems Science and Engineering at Johns Hopkins University has announced that the global coronavirus infections has now exceeded 200 million.

Foreign Exchange Rates

At time of writing:

  • The Rand traded at 14.4019 versus the dollar.
  • GBP: 20.03
  • Euro: 17.05
  • Gold: 1811 USD
  • Bitcoin: 38 935 USD

To start sending and receiving money today, download the SFX app now on Android or iOS

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