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 might possibly reach a level if 15.0000 in the short-term. The local unit quickly reached its best level of 15.1000 in the overnight session. The rand is in a positive environment as the USD is struggling to post any gains. The predicted trading range for the rand today is between 15.0000 and 15.5000.
The rand increased with 2% against the USD dollar over the past two days. This increase came as December’s inflation figures was better than expected and increased the possibility of a interest rate increase.
The World Bank has approved a loan of $750 million which relates to about R11 billion to South Africa. The loan is low-interest which will help the country recover from the financial strain caused by the Covid-19 pandemic.
At time of writing:
The Rand traded at 15.1438 versus the dollar.
- GBP: 20.54
- Euro: 17.18
- Gold: 1832 USD
- Bitcoin: 39 008 USD