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 has retreated to a level just below 15.6000. The local unit trades much weaker on Friday and reached its highest level of 15.7025. The predicted trading range for the rand today is between 15.3000 and 15.8000.
International market focus will be on the US Non-Farm Payrolls data which is due on Friday. Various Central Banks such as Australia, UK and European central is scheduled to meet this week. The rand traded with caution after last week’s announcements from the US Federal Reserve and SARB. Global focus are still closely on the possible escalation of geopolitical tension.
Gold prices slipped on Monday, as US markets are expecting higher rate increase by the Federal reserve. The strong dollar is putting more pressure on the precious metal.
Foreign Exchange Rates
At time of writing:
The Rand traded at 15.4677 versus the dollar.
- GBP: 20.6
- Euro: 17.23
- Gold: 1792 USD
- Bitcoin: 36 692 USD