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 steady at a level of 15.9000. The local unit managed to hold onto its gains yesterday after reaching a best level of 15.8700. The future for the rand is still uncertain as global factors are very influenced by the current Omicron variant. The predicted trading range for the rand today is between 15.7000 and 16.2000.
Local data released for today is the third quarter gross domestic product (GDP). This will show the economic impact from the arson, looting and riots which took place in July. More than 300 people were killed during that period with thousands of stores being damaged.
The rand is finding some support from local and international feedback regarding the severity of the Omicron coronavirus variant. Experts has said that this new variant is causing mild symptoms but is still highly contagious.
Foreign Exchange Rates
At time of writing:
The Rand traded at 15.9759 versus the dollar.
- GBP: 21.16
- Euro: 17.97
- Gold: 1778 USD
- Bitcoin: 51 227 USD