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 improved to trade at a level in the low 16.00s. Yesterday it reached its highest level of 16.3225, before it recovered to close the session in the low 16.20s. The predicted trading range for the rand today is between 15.8500 and 16.3500.
The local unit is trading 0.71% stronger than its previous close. The greenback fell from a 20-year high as investors are uncertain whether the U.S. interest hikes will support further dollar improvements. Markets are keeping a close eye on Thursday for the announcement form the South African Reserve’s bank monetary policy decision.
Most global stock indexes decreased on Monday, including stocks in the United States. In return, the JSE improved as commodity prices strengthened.
Foreign Exchange Rates
At time of writing:
The Rand traded at 16.0605 versus the dollar.
- GBP: 20.00
- Euro: 16.83
- Gold: 1827 USD
- Bitcoin: 30 620 USD