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 stable at a level of 15.1000. The local unit reached its lowest level of 15.0650 on Friday as local exported buying provided support for the rand. If the rand breaks below the 14.95/15.00 level, then a move towards the 14.00 level is quite possible. The predicted trading range for the rand today is between 14.9000 and 15.3500.
This week’s market focus will be on the central bank meetings that will influence the course of domestic and international interest rates. The South African Reserve Bank is expected to deliver its first-rate decision of this year on Thursday.
If the U.S. Federal Reserve decides to reign in their policy, it will move capital away from emerging markets like South Africa. The outcome of the U.S. monetary policy is a big support ticket for rand assets.
Foreign Exchange Rates
At time of writing:
The Rand traded at 15.1219 versus the dollar.
- GBP: 20.49
- Euro: 17.11
- Gold: 1840 USD
- Bitcoin: 35 062 USD