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 in volatile territory as the situation on the Ukraine and Russia border is escalating. The local unit reached a low of 14.9000 last week but didn’t manage to hold onto that level. The predicted trading range for the rand today is between 14.9500 and 15.4500.
All foreign exchange markets are currently frail as there are big uncertainty in numerous segments in the world’s political and economic sectors. Russian President Vladimir Putin has admitted to two breakaway regions in eastern Ukraine as independent parties.
An increase in commodity prices such as gold, which benefit resource-rich countries like South Africa, could restrict sentiment-driven selling in the rand.
Foreign Exchange Rates
At time of writing:
The Rand traded at 15.1828 versus the dollar.
- GBP: 20.61
- Euro: 17.18
- Gold: 1903 USD
- Bitcoin: 36 999 USD