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 continuing to improve on its positive trend even though the U.S. jobs data was optimistic. On Friday the rate traded at its best level of 15.1375 at the time of closing. In the overnight session is traded beyond the 15.0000 level. The predicted trading range for the rand today is between 14.8000 and 15.3000.
This week’s local market focus will be on the Medium-Term Budget Policy Statement. There is growing concern of the effects of Eskom’s continuing loadshedding on the rate of economic recovery. In international market focus, investors are anticipating key inflation data due later this week.
Gold prices increased on Monday as investors are keeping a close eye on the central banks, hoping that they would keep interest rates low for now.
Foreign Exchange Rates
At time of writing:
The Rand traded at 15.0400 versus the dollar.
- GBP: 20.29
- Euro: 17.40
- Gold: 1815 USD
- Bitcoin: 66 182 USD