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 made major gains in yesterday’s session to trade at levels below 15.1000. The local unit quickly breached below 15.0000 but didn’t last long and opened today’s session at 15.2400. The predicted trading range for the rand today is between 15.0500 and 15.5500.
The U.S. CPI data released yesterday showed an increase of 7.5% which was the biggest annual increase in 40 years. This data caused substantial price activity in the foreign exchange markets across the board.
Last night President Cyril Ramaphosa delivered his sixth State of the Nation Address. In his speech he touched on various important aspects. Ramaphosa announced the following: fundamental reform, extended the Covid-19 social grant and assured to put more focus on the fight against corruption.
Foreign Exchange Rates
At time of writing:
The Rand traded at 15.0692 versus the dollar.
- GBP: 20.45
- Euro: 17.16
- Gold: 1827 USD
- Bitcoin: 43 032 USD