Rand News Update │ Rand influenced by media headlines

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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 is trading at a level of 15.3000 level as its influenced by global headlines. On Friday we saw the rand reach a best level of 15.1100 for the day but quickly made the move back to close at 15.2475. The predicted trading range for the rand today is between 15.1500 and 15.7500.

The financial market is in the hands of the ever-changing headlines which are about Russia’s invasion of Ukraine. Russia has seen numerous measures and sanctions placed against them because of the war. Russian President Vladimir Putin has announced that the country’s nuclear deterrent is on high alert.

Local focus today will be on January trade balance figures released by the revenue agency. The National Treasury will also release the January budget balance numbers.

Foreign Exchange Rates

At time of writing:

The Rand traded at 15.3592 versus the dollar.

  • GBP: 20.53
  • Euro: 17.16
  • Gold: 1896 USD
  • Bitcoin: 38 578 USD

To start sending and receiving money today, download the SFX app now on Android or iOS

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