Rand News Update │ Rand staying on positive trend

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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 staying in a positive territory even though the local unemployment data released yesterday was disappointing. Local foreign exchange markets showed a massive surge in trade volumes during yesterday’s session. The predicted trading range for the rand today is between 14.3000 and 14.7000.

The ZAR is holding on to wins from the previous session as it increased by 0.3% against the dollar. South Africa’s unemployment rate showed an increase of 35.3% in the fourth quarter of 2021, which can be a direct cause from manufacturing and construction sectors cutting jobs.

There has been positive progress between Ukraine and Russia as their peace talks are still in session. Ukraine has proposed to adopt a neutral status, with hopes that Russia will follow out their deal to scale down military operations in and around Kyiv.

Foreign Exchange Rates

At time of writing:

The Rand traded at 14.4492 versus the dollar.

  • GBP: 18.96
  • Euro: 16.09
  • Gold: 1922 USD
  • Bitcoin: 47 469 USD

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