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 has reached a favourable level of 15.0000. Yesterday the rand reached its best level of 14.9775 whilst there was very limited trading in the overnight session. The limited trading is mostly because of the summer holidays in the Northern Hemisphere. The predicted trading range for the rand today is between 14.8500 and 15.3500.
According to Statistics South Africa, more than 7.8 million South Africans were out of work by the end of June. This is an increase of 584 000 on the previous three months. The unemployment figures are expected to increase in the third quarter because of extensive lockdown measures in order to curb the spreading of the Delta coronavirus variant.
If we look at the global markets, investors will keep an eye on the Federal Reserve’s Jackson Hole symposium scheduled for later this week on signs about the course the U.S. monetary policy and the timing of an expected tightening of its stimulus during the global pandemic.
Foreign Exchange Rates
At time of writing:
- The Rand traded at 14.9650 versus the dollar.
- GBP: 20.52
- Euro: 17.56
- Gold: 1793 USD
- Bitcoin: 48 369 USD