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 slightly overnight which is edging closer to the short-term technical support level of 15.2000. Foreign exchange markets will continue to trade in limited ranges with no noticeable movement taking place now. The predicted trading range for the rand today is between 15.2000 and 15.6000.
The local unit is expected to trade within its current levels ahead of the annual State of the Nation Address taking place tomorrow. Data releases expected for today is business confidence figures for December and January. Last year’s loadshedding and the riot in July has left a sour taste in investors mouth towards their confidence in the country.
Oil prices increased after two days of a downturn after industry reports showed a decline in US crude and gasoline stockpiles.
Foreign exchange Rates
At time of writing:
The Rand traded at 15.3240 versus the dollar.
- GBP: 20.78
- Euro: 17.50
- Gold: 1827 USD
- Bitcoin: 43 346 USD