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 steady in the low 15.0000’s level. Yesterday the local unit traded in a range of 15.0200 and 15.1650. On Monday the rand reached a high of 15.4650 but throughout the week recovered much more to reach a level below 15.0000. The predicted trading range for the rand today is between 14.8500 and 15.3500.
As the rand is improving, there is push back as demand for the USD increase. Foreign exchange markets are very much at the hands of global headlines. The ZAR traded 0.18% weaker this morning than its previous close. U.S. inflation released yesterday showed a strong increase which will result in more aggressive interest rate increases worldwide.
Market environment is under pressure as Russia and Ukraine’s war is in its third year. On Thursday their foreign ministers were scheduled to talk but no de-escalating was reached.
Foreign Exchange Rates
At time of writing:
The Rand traded at 15.1156 versus the dollar.
- GBP: 19.73
- Euro: 16.57
- Gold: 1990 USD
- Bitcoin: 39 120 USD