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 marginally better below the 16.0000 level. On Friday it recovered to trade at a level of 15.80 after closing the session at a level of 15.90. The local unit will be on defence mode as we head into the last full trading week of the year.
The rand will take its direction from the USD this week, as there is feedback expected from the U.S. data release. There is always a risk of minimal trade over the holiday season, which can be intensified to even more than what is expected.
South African data has showed that the omicron variant is very transmissible but there is a much lower mortality rate. Other countries are taking no risks which means there are still travel bans in place for various African countries.
Foreign Exchange Rates
At time of writing:
The Rand traded at 15.8659 versus the dollar.
- GBP: 20.89
- Euro: 17.84
- Gold: 1799 USD
- Bitcoin: 45 937 USD