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 recovered to a level of 15.3000 in yesterday’s session after local inflation announced gave support to the local unit. The USD-ZAR pair is testing the lower level of 15.2900 in its recent sessions. Short-term outlook is leaning towards a break below 15.000. The predicted trading range for the rand today is between 15.1000 and 15.6000.
The South African Reserve Bank’s first-rate decision for the year will take place next week on 27 January 2022. Predictions are that the rate will increase with 25 bps and the repo rate to 4.00%. Last year SARB commented on other emerging market central banks like Russia and Brazil for increasing their rates. SARB increased the rates by 25 basis points at their last monetary policy meeting of 2021 in November, which was the first-rate increase in three years.
Asian share markets increased on Thursday as China emphasized it conflicting monetary and economic outlook by lowering benchmark mortgage rates. Gold prices are lower as the USD decreased.
Foreign Exchange Rates
At time of writing:
The Rand traded at 15.2622 versus the dollar.
- GBP: 20.79
- Euro: 17.32
- Gold: 1839 USD
- Bitcoin: 41 922 USD