Rand News Update │ Rand trading in high 14.70s

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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 in the high 14.7000 level after the long weekend. Markets are very sensitive to comments from the central bank and relevant activity. The Federal Reserve has commented that there is a possibility of several 50bps increases during the year. The predicted trading range for the rand today is between 14.5000 and 14.9000.

Local investors are focusing on the impact the recent power cuts and devastating floods in KwaZulu-Natal will have on local businesses and companies. The floods have interrupted operations at the Durban port, which is one of Africa’s busiest ports. More than 440 people have been reported to have lost their lives and it has left thousands homeless.

According to a provincial official reported on Sunday, the extent of the destruction is already reaching a high of R10 billion of damage so far.

Foreign Exchange Rates

At time of writing:

The Rand traded at 14.7896 versus the dollar.

  • GBP: 19.26
  • Euro: 15.96
  • Gold: 1977 USD
  • Bitcoin: 40 637 USD

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