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 trade at a level of 15.2000. Yesterday the USD lost ground as the Bank of England increased its interest rates. The local unit gained more than 1% since Monday. The predicted trading range for the rand today is between 15.1000 and 15.5000.
Today’s market focus will be on the U.S. data releases which will be the reason for trading activity being vigilant today. The rand had to endure domestic risks during this week as Eskom once again implementing scheduled loadshedding.
With the fear of geopolitical tension between Russia and Eastern Europe, other regions in the world are stepping in. The United States have warned Chinese firms that there will be consequences if they consider lifting any export controls imposed on Moscow.
Foreign Exchange Rates
At time of writing:
The Rand traded at 15.2569 versus the dollar.
- GBP: 20.71
- Euro: 17.47
- Gold: 1809 USD
- Bitcoin: 37 957 USD
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