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 has breached below the 15.1000 level as it kept on posting gains in yesterday’s session. As the local unit is showing good support, the USD declined by 0.2% against its peers. The predicted trading range for the rand today is between 14.8500 and 15.3500.
The rand has been strong after aggressive feedback from the U.S. Federal Reserve. Analysts have advised that the strong rand could change if Russia invades Ukraine, which will turn market sentiment negative.
Local economic data due this week that could have an influence on the rand is January consumer inflation figures and December retail sales. President Cyril Ramaphosa will hold a media briefing today where he will take questions on last week’s State of the Nation Address.
Foreign Exchange Rates
At time of writing:
The Rand traded at 15.0248 versus the dollar.
- GBP: 20.37
- Euro: 17.04
- Gold: 1872 USD
- Bitcoin: 43 863 USD