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 lost some ground on Friday and closed the session at a 15.5000 level. This morning the local unit is currently trading in the low 15.40s. The predicted trading range for the rand today is between 15.2500 and 15.7500.
The foreign exchange markets are very vulnerable at the moment as the geopolitical situation is escalating. The rand has shown much improvement in the previous week but did not manage to hold onto its gains. The rand is trading 0.64% weaker than its closing level on Friday. Markets are expecting that commodity prices will increase along with higher inflation.
Local market focus this week will be on gross domestic product data for the forth quarter of last year. January mining and manufacturing data is due on Thursday.
Foreign Exchange Rates
At time of writing:
The Rand traded at 15.3830 versus the dollar.
- GBP: 20.25
- Euro: 16.71
- Gold: 1995 USD
- Bitcoin: 38 294 USD