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 trading at a stable level of 15.2000. The local unit reached its best level of 15.0600 in last week’s final session. After that the USD recovered again as tensions between the US and Russia is increasing because of the situation in Ukraine. The predicted trading range for the rand today is between 15.0500 and 15.5500.
There are no important market releases for today. The market focus this week will be on retail sales data expected from the U.S. and the minutes from the Federal Open Market Committee. The United States declared on Sunday that they will defend NATO territory if Russia decide to attack. This geopolitical situation has the possibility to upset global markets.
Analysts are saying that the rand’s support is from the rather high real yields and the development announces by President Cyril Ramaphosa in last week’s State of the Nation Address.
Foreign Exchange Rates
At time of writing:
The Rand traded at 15.1905 versus the dollar.
- GBP: 20.52
- Euro: 17.19
- Gold: 1858 USD
- Bitcoin: 42 145 USD