Rand News Update │ Rand met new support to trade at 15.3000

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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 met new support to trade at a level of 15.3000. Yesterday the local unit reached a high of 15.5600 but recovered to trade in the low 15.40s. The short-term technical support level is still at 15.2000 and is stull the level to reach. The predicted trading range for the rand today is between 15.1500 and 15.6000.

Market focus is on the U.S. Non-farm payroll data due tomorrow. U.S. Federal Reserve Chair Jerome Powell, announce don Wednesday that the central bank will begin to slowly increase interest rates in March. He also mentioned that the central bank is ready to increase rates more quickly if required.

The International Criminal Court is busy with an investigation into whether Russian President, Vladimir Putin and its country have committed war crimes. This investigation is steered by 38 countries and dating back to 2013.

Foreign Exchange Rates

At time of writing:

The Rand traded at 15.3172 versus the dollar.

  • GBP: 20.50
  • Euro: 16.98
  • Gold: 1930 USD
  • Bitcoin: 43 344 USD

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