Rand News Update │ Rand’s support on positive trend

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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 on a positive trend as it is trading towards a 15.2000 level. The current upwards trend is likely to carry on as the Ukraine situation is worsening. The predicted trading range for the rand today is between 15.1500 and 15.6500.

The local unit traded between a range of 15.2500 and 15.4650 in yesterday’s session. It is currently trading at 0.15% weaker than its previous close. Various commodity currencies as well as emerging market countries which are far away from the conflict are in similar positions as the rand.

Local focus will be on the gross domestic product data for the period of October to December 2021 due today. Economists are expecting to show that the economy grew by 1.3% in the quarter after shrinking 1.5% in the previous three months.

Foreign Exchange Rates

At time of writing:

The Rand traded at 15.3521versus the dollar.

  • GBP: 20.13
  • Euro: 16.71
  • Gold: 2006 USD
  • Bitcoin: 38 905 USD

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