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 close to 14.2000. Trading activity was quiet yesterday since it was a holiday in the U.S. The local unit traded in between a range of 14.2300 to 14.3600. market participants also didn’t take part in yesterday’s trading. The predicted trading range for the rand today is between 14.1000 and 14.4000.
The latest gross domestic product (GDP) data is due to be released today by Statistics South Africa. Economist are predicting a quarter-on-quarter growth of 0.7 %. This number down form 1.1% in the previous three months.
As of the last 24-hour monitoring period, South Africa has confirmed 4118 new Covid-19 cases and 198 deaths related to Covid-19 complications. The total deaths in the country are now 83 617 with a recovery rate of 92.1%. KwaZulu Natal has recorded most cases with 28% of new cases allocated to that province. A study which was commissioned by the Solidarity Fund and GCIS has showed that young people are the least willing to get vaccinated.
Foreign Exchange Rates
At time of writing:
- The Rand traded at 14.2909 versus the dollar.
- GBP: 19.73
- Euro: 16.95
- Gold: 1813 USD
- Bitcoin: 52 275 USD