Rand News Update │ Rand retreated as dollar improve

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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 retreated to trade back above the 15.0000 level, while the USD improves. This comes after media headlines focus on the situation between Russia and Ukraine. The predicted trading range for the rand today is between 14.9000 and 15.3000.

Local market focus this week will be on the Budget speech due on Wednesday. Investors are anticipating leads on the country’s economic growth and debt movement. In the mid-term budget November, Treasury committed to reduce the budget deficit and cut back debt.

US President Joe Biden has agreed “in principle” to meet with Russian President Vladimir Putin regarding the situation in Ukraine. Gold prices declined after this announcement as the demand for the safe-haven metal reduced.  

Foreign Exchange Rates

At time of writing:

The Rand traded at 15.0961 versus the dollar.

  • GBP: 20.57
  • Euro: 17.17
  • Gold: 1893 USD
  • Bitcoin: 39 244 USD

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