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 steady below a level of 15.0000. The local unit were supported throughout yesterday’s session reaching it s best level for the day at 14.9100. The predicted trading range for the rand today is between 14.7000 and 15.2000.
Geopolitical headlines are affecting market direction, of which the latest is that the United States and Russia have agreed to meet. After this announcement the U.S. equity futures bumped up from their recent lows.
South Africa’s Finance Minister Enoch Godongwana is expected to deliver his budget speech for 2022 next week. There is uncertain optimism over the budget speech from investors, which is adding to the country’s demand as an investable emerging market.
At time of writing:
The Rand traded at 14.9919 versus the dollar.
- GBP: 20.43
- Euro: 17.05
- Gold: 1894 USD
- Bitcoin: 40 820 USD