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 came under pressure during the overnight session. The rand reached a high of 15.5300. Financial markets are directly influenced by the headlines which are consumed of the conflict between Russia and Ukraine. The predicted trading range for the rand today is between 15.1000 and 15.6000.
The local unit will remain under pressure as the weekend is kicking off with the next technical objective being at a 15.7000 level. The USD and gold are usually a safe have at time of financial or geopolitical unrest. The possibility of stricter sanctions against Russia are imminent. Consequently, this will influence the supplies of platinum and palladium as Russia are major producers.
Fears are increasing over global supply chain disruption caused by the Russian and Ukraine unrest. Russian President Vladimir Putin has asked Ukrainian soldiers to lay down their weapons immediately and return home.
Foreign Exchange Rates
At time of writing:
The Rand traded at 15.3174 versus the dollar.
- GBP: 20.50
- Euro: 17.12
- Gold: 1911 USD
- Bitcoin: 38 387 USD