Rand News Update │ Rand suffers as USD performs

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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 suffering while the USD is performing, with the local unit trading at a level of 16.2000. Yesterday’s trading range was between 15.9850 to 16.0000 as market activity was relatively subdued. The predicted trading range for the rand today is between 15.9500 and 16.4500.

The ZAR will remain trading on the backfoot as the USD encounter new support. Short-term technical indicators are still pointing to the upside, but there are suggestions that the rand will stay in a vulnerable state. Possibility is that the ZAR will reach further weakness as global and local factors damper any expectations of improvements.

Local data due for today is mining manufacturing data for March. Investors will look for indicators on the first-quarter performance of the economy amid the ongoing power cut disaster.

Foreign Exchange Rates

At time of writing:

The Rand traded at 16.2182 versus the dollar.

  • GBP: 19.76
  • Euro: 16.92
  • Gold: 1850 USD
  • Bitcoin: 27 525 USD

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