Rand News Update │ Rand under pressure as USD improve

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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 come under pressure as the USD improved after positive U.S. jobs reports. On Friday, the local unit traded between 14.5400 and 15.7025 after which it closed the session trading in the highs. The predicted trading range for the rand today is between 14.4500 and 14.8500.

Ratings agency, Moody’s revised South Africa’s outlook to “stable”. This decision was made as the agency said the country’s enhanced fiscal outlook will assist the government in alleviating its debt load over the medium term.

As the Russia-Ukraine peace talks lingered on, Germany has announced that more sanctions would be put in place after shocking reports of Russian brutalities. European leaders will discuss bans on Russian gas imports to Europe.

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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