Rand News Update │ Rand likely to improve

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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 likely so show some improvement as there is very limited market movement. Market appetite for risk assets and currencies improved, even though the surge in Omicron Covid-19 cases is a concerning factor for investors.

Many countries still have restrictions and lockdowns in place as the Omicron cases are increasing on a global scale. But the spike in cases will most likely be over much quicker because of a lower degree of disease. This variant is unlikely to be as upsetting on the economy as previous variants were.

Asian stocks increased after Beijing announced that it will help troubled property firms. There was little movement of gold process as the dollar faced some weakness.

Foreign Exchange Rates

At time of writing:

The Rand traded at 15.8056 versus the dollar.

  • GBP: 20.95
  • Euro: 17.85
  • Gold: 1796 USD
  • Bitcoin: 48 677 USD

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