Rand News Update │ Rand holding at 16.0000 level

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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 is trading at a 16.0000 level while the local unit is still in a weak position. Yesterday the rand trades in a range of 15.87 and 16.06. The ZAR will once again be in a cautious environment ahead of the FOMC due on Wednesday. The predicted trading range for the rand today is between 15.8500 and 16.3500.

There are a few of central bank policy decisions due in the following days along with local consumer price inflation numbers. Central bank’s announcing decisions this week includes the European Central Bank, the Bank of England, and the Bank of Japan.

The National Institute for Communicable Diseases has recorded 13 992 new Covid-19 cases on Monday and 11 new deaths. The number of new cases represents a 31% positivity rate. According to the Department of Health, there has been a total number of 27 188 606 vaccines administered to date.

Foreign Exchange Rates

At time of writing:

The Rand traded at 16.0119 versus the dollar.

  • GBP: 21.14
  • Euro: 18.04
  • Gold: 1783 USD
  • Bitcoin: 47 088 USD

To start sending and receiving money today, download the SFX app now on Android or iOS

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