Rand News Update │ Rand trading at level of 14.50

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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 at a level of 14.5000. The local unit quickly reached a level below 14.5000 on Friday, but the demand for the USD made the rand trade weaker at to reach a level of 14.6000. The predicted trading range for the rand today is between 14.4000 and 14.8500.

Shanghai, China has imposed new lockdown regulations on Sunday as authorities ordered a two-phased shutdown. The city is busy with a none-day period in order to carry out COVID-19 testing. Firms and factories have stopped manufacturing for now and is working remotely where they can.

Gold prices decreased as the dollar index grew and the U.S. Treasury yields hold stable. Investors are focusing on the possibility of Russian and Ukraine peace talks due this week. Ukrainian officials have confirmed that Russia is leaving some areas of the country after President Volodymyr Zelenskyy announced that he is ready to discuss implementing a neutral status as part of a potential peace agreement.

Foreign Exchange Rates

At time of writing:

The Rand traded at 14.5287 versus the dollar.

  • GBP: 19.08
  • Euro: 15.95
  • Gold: 1930 USD
  • Bitcoin: 47 089 USD

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