Rand News Update │ Rand trading weaker against dollar

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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 0.2% weaker against the dollar compared to its previous close. Investors have turned their focus back on riskier assets, as safe-haven assets like the U.S. dollar benefited from the positive sentiment.

Stocks improved in early trade on Thursday, following on the increases from the previous day. Share have also improved as health care professionals said that the Omicron variant might be not as severe as expected. Strong U.S. economic data released is also contributing to stock gains.

Director-general of the World Health Organisation said on Wednesday that 2022 must be the end of the Covid-19 pandemic. For the world to achieve this, every country must vaccinate 70% of its population by the middle of 2022. The reported daily infections of the Omicron variant are rising, but the number of deaths is going down.

Foreign Exchange Rates

At time of writing:

The Rand traded at 15.7617 versus the dollar.

  • GBP: 21.11
  • Euro: 17.84
  • Gold: 1807 USD
  • Bitcoin: 48 328 USD

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