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 of 14.9000. The next short-term technical support level is likely to be reached at around 14.7000. This situation was not expected, especially with Eskom’s ongoing struggles at Eskom. Earlier in today’s session the local unit reached its best level since 27th October at 14.8975. The predicted trading range for the rand today is between 14.7000 and 15.1500.
Local markets have not seen many consequences of Eskom’s struggles and the constant loadshedding being implemented. The Minister of Finance, Enoch Godongwana will deliver his first Medium-Term Budget Policy Statement (MTBPS) on Thursday. The MTBPS will give a rough draft of the projected budget deficits along with the economic growth projected over the next three years.
On Monday, the United States ended their pandemic travel ban which was in place for more that a year and a half. The previous rule banded international visitors from 33 countries, including the U.K., South Africa, Brazil and much of Europe. Visitors entering the U.S. will have to show proof of vaccinations a as well as negative Covid-19 test.
Foreign Exchange Rates
At time of writing:
The Rand traded at 14.9212 versus the dollar.
- GBP: 20.24
- Euro: 17.29
- Gold: 1824 USD
- Bitcoin: 68 083 USD