Rand News Update │ Rand struggling to hold onto its gains

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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 has struggled to hold onto it gains made on Thursday after reaching a best level of 14.4100. During the overnight session the rand reached a level as high as 14.6425. The predicted trading range for the rand today is between 14.4000 and 14.8000.

Markets will closely keep an eye on various U.S. data releases and especially on non-farm payrolls. Investors are looking forward to receiving hints on U.S. Federal Reserve’s monetary policy position. South African focused investors are anticipating the Moody’s review of the credit ratings scheduled for today.

Peace talks between Ukraine and Russia will continue today, but Ukraine are getting ready for more attacks. Although there is a lot of uncertainty over the war, and how its has impacted the rand, the ZAR has managed to stay tough.

Foreign Exchange Rates

At time of writing:

The Rand traded at 14.5885 versus the dollar.

  • GBP: 19.14
  • Euro: 16.14
  • Gold: 1932 USD
  • Bitcoin: 45 145 USD

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