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 retreated on Friday to trade at a level above 15.4000. The local unit reached its highest level of 15.5275 during its overnight session. The predicted trading range for the rand today is between 15.2500 and 15.7500.
Local focus will be President Cyril Ramaphosa who is due to deliver the State of the Nation address on Thursday. The annual address is usually used to publicise any changes in key policy areas. Other important factors due this week is January business confidence and December mining and manufacturing data.
Asian markets declined slightly on Monday after solid U.S. jobs data released on Friday. This played its part to the reason for the Federal Reserve tightening its policy. Gold prices increased while the pressure on inflation is caused by the oil prices increasing.
Foreign Exchange Rates
At time of writing:
The Rand traded at 15.4630 versus the dollar.
- GBP: 20.94
- Euro: 17.69
- Gold: 1813 USD
- Bitcoin: 46 616 USD