Rand News Update │ Rand trading in low 15.00 level

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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 trading in the low 15.00 level after a very limited trading range yesterday of between 15.06 and 15.18. All foreign-exchange markets are struggling to maintain any significant trend over the course of the previous sessions. The predicted trading range for the rand today is between 14.9000 and 15.4000.

The Federal Reserve is scheduled to meet today where they will decide on interest rate increases. They are set to increase rates for the first time since the global pandemic which started in 2020. Investors are wary of the Fed’s meeting today along with the ongoing Ukraine war and China’s increase of Covid-19 cases.

Yesterday the government extended its national state of disaster for another month. The one-month extension is to take into account the need for new or existing legislation and contingency arrangements to take place.

Foreign Exchange Rates

At time of writing:

The Rand traded at 15.0605 versus the dollar.

  • GBP: 19.67
  • Euro: 16.55
  • Gold: 1915 USD
  • Bitcoin: 40 248 USD

To start sending and receiving money today, download the SFX app now on Android or iOS

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