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 still trading around the 15.0000 level, as the slight improvements of the local unit are stopped quickly by the demand for USD. The rand reached its best level of 14.8975 yesterday but weakened as it traded at a 15.0700 level this morning at opening. The predicted trading range for the rand today is between 14.8000 and 15.3000.
The local unit continues to be in a vulnerable position and are very sensitive to both international and local factors. As some of the country’s lockdown restrictions have been lifted, Eskom announced that load shedding would restart. This will now negatively impact the progress of a sustained economic recovery.
Gold prices increased, but the strong dollar and the Federal Reserve’s announcement that bond tapering will start, will slow down the metal’s gains. Gold is quite though, but investors are hesitant to react on its recent gains as they wait for the Federal Reserve’s meeting outcome for September.
Foreign Exchange Rates
At time of writing:
The Rand traded at 15.0001 versus the dollar.
- GBP: 20.42
- Euro: 17.35
- Gold: 1758 USD
- Bitcoin: 57 273 USD