Rand News Update │ Rand holding steady at 15.0000 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 steady at a level of 15.0000. the local unit reached its best rate at 14.9100 yesterday after closing the session back at a high of 14.9675. All foreign exchange markets are on high alert as the Federal Reserve’s Jackson Hole to take place today. The predicted trading range for the rand today is between 14.8000 and 15.2000.

There has been a lot of discussion about the Federal Reserve’s chances of lowering the stimulus created when the pandemic was at its highest. The fact that the Delta variant is still creating havoc in certain countries, economic rebound might be slower in many countries. There is a possibility of the U.S. interest rates increasing that will result in the demand for the ZAR decreasing and increase the dollar’s appeal.

Gold prices decreased on Thursday as markets are anticipating US. Federal Reserve chair Jerome Powell’s speech later this week. His speech could provide insight into the central bank’s strategies over tapering of economic stimulus.

Foreign Exchange Rates

At time of writing:

  • The Rand traded at 14.9603 versus the dollar.
  • GBP: 20.55
  • Euro: 17.59
  • Gold: 1785 USD
  • Bitcoin: 46 817 USD

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