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 testing the level at 15.0000. But there might be some demand from the USD as the rand try to break below that level. The predicted trading range for the rand today is between 14.8000 and 15.3000.
The next short-term technical support level for the rand is around 14.9000 and after that it is 14.7000. Asian shares increased as Wall Street stocks improved. The possible diplomatic talks between Russia and Ukraine will maintain the current sentiment, even though analysts predict there could be a sudden drop as risks are still eminent.
Gold prices decreased as oil prices also recovered. This comes after the United Arab Emirates announced it will assist with oil production.
Foreign Exchange Rates
At time of writing:
The Rand traded at 15.1010 versus the dollar.
- GBP: 19.89
- Euro: 16.68
- Gold: 1981 USD
- Bitcoin: 39 237 USD