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 at risk of more losses as it reached a high of 15.54 during its overnight session. The foreign exchange market is trading in a very limited range as its waiting for its next direction. The predicted trading range for the rand today is between 15.3500 and 15.8500.
The improvement of the USD is boosted by strong U.S. labour data expected later this week. The local unit’s decline was impacted by the loadshedding which started again yesterday. Eskom’s struggles are a major restraint on economic growth and investor outlook in South Africa.
Inflation has been on everyone’s tongue for this year. If the inflation is strong then the central banks will possibly act with stricter policies. This data will definitively be influencing the market.
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