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 mostly unchanged today, compared to yesterday. But hopes are high as there is a slight improvement in this morning’s opening. The predicted trading range for the rand today is between 14.8500 and 15.3500.
The local unit have tended to take its indications from global factors in the recent weeks. One factor is the movements in the outlook for U.S. monetary policy. Domestic data that has been released recently showed a better that expected outcome and that the economy has performed strongly in the first half of the year.
President Cyril Ramaphosa announced last night that the country will move to adjusted Alert Level 1. According to the Department of Health, a further 101 Covid-19 related deaths have been reported in the last 24 hours monitoring period. Hospital admissions have increased by 128 in the past 24 hours. Below are some important Level 1 regulations to note:
At time of writing:
The Rand traded at 14.9717 versus the dollar.
- GBP: 20.18
- Euro: 17.33
- Gold: 1754 USD
- Bitcoin: 44 880 USD