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 lost ground yesterday to trade at a level of 15.3000. Risk-off sentiment along with geopolitical events played in favour of the USD. The local unit reached its highest level of 15.3950 in the overnight session. The predicted trading range for the rand today is between 15.1000 and 15.5000.
The rand made some what of a small improvement in yesterday’s close at 15.2500. Market focus will be on the developments in Ukraine and how it effects the USD movement. There is no obvious outcome of what the FOMC and local MPC meeting will deliver this week.
Oil prices increased after the biggest one-day decline this year. Trades are turning their attention to the positive demand outlook and inkling towards risk rebounded.
Foreign Exchange Rates
At time of writing:
The Rand traded at 15.3148 versus the dollar.
- GBP: 20.65
- Euro: 17.29
- Gold: 1838 USD
- Bitcoin: 36 098 USD