Rand News Update │ Rand consistently trading on back foot

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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 consistently on the back foot as its currently in 14.7000 level. The local unit reached its best level of 14.6650 yesterday and closed the session at its highest level of 14.8900. The international markets are still wary of risks. The predicted trading range for the rand today is between 14.6000 and 14.9000.

Markets will keep a close eye on the CPI and FOMC meeting this evening for more transparency. Today’s expectations are that there will be little movement and price action will be vague, which will carry through into the overnight sessions.

Data released from Statistics South Africa on Wednesday, revealed that the consumer price inflation speeded up to 4.9% year on year in August from 4.6% in July. Compared to the previous two months, the CPI was on 1.1% for July and 0.4% in August.

Foreign Exchange Rates

At time of writing:

The Rand traded at 14.7601 versus the dollar.

  • GBP: 20.14
  • Euro: 17.31
  • Gold: 1775 USD
  • Bitcoin: 42 352 USD

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