Rand News Update │ Rand trading cautious

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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 cautiously as the USD buyers are influencing the rand’s strength. The local unit reached its best level of 14.5000 during yesterday’s session but did not manage to break below that. The rand traded up to 14.7400 close to the end of the session. The predicted trading range for the rand today is between 14.5000 and 14.9000.

The ZAR is trading 0.46% stronger that is previous close. The rand is following a different trend than other riskier currencies as commodity prices are positive due to supply concern caused by the Russia-Ukraine conflict.

Oil prices decreased on Tuesday after Ukraine and Russia is scheduled for peace talks. There is much concern about demand after China’s financial hub, Shanghai, has locked down in order to curb the recent spike of Covid-19 cases.

Foreign Exchange Rates

At time of writing:

The Rand traded at 14.6920 versus the dollar.

  • GBP: 19.24
  • Euro: 16.15
  • Gold: 1916 USD
  • Bitcoin: 47 562 USD

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