Rand News Update │ Rand managed to stay below 16.0000

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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 manged to stay below a level of 16.0000 after reaching its highest of 15.9750 for the day. The local unit managed to make a very slim recovery to trade back in the 15.80s. Markets will be slightly muted today because of the U.S. holiday and liquidity is likely to be limited. The predicted trading range for the rand today is between 15.6500 and 16.15000.

U.S. dollar indexes have been one of the most important influences in the recent days, as well as the emerging markets associated with the collapse of the Turkish lira. Local investors are focusing on domestic producer inflation data to give some direction on the price pressures in the country.

We’ve seen the rand drop by at least 4% against the dollar this month. This came after the South African Reserve Bank increased the interest rates for the first time in three years.

Foreign Exchange Rates

At time of writing:

The Rand traded at 15.8208 versus the dollar.

  • GBP: 21.09
  • Euro: 17.75
  • Gold: 1793 USD
  • Bitcoin: 57 605 USD

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