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 below 15.7000. In yesterday’s session the local unit reached its best level of 15.64 on the day. There are various global factors putting tension on the markets, which are trading with caution. The predicted trading range for the rand today is between 15.6000 and 16.0000.
Tension between Ukraine and Russia is still high, as Poland is backing Ukraine to not give in to Putin’s pressure and let go of territory. Russia’s Nornickel dropped on Monday as the global palladium has a shortage due to the lower demand from the car industry caused by the Ukraine crisis.
Gold is trading stable after four days of increases as investors are evaluating risk appetite in bigger financial markets and the outcome of recent monetary-policy tightening.
Foreing Exchange Rates
At time of writing:
The Rand traded at 15.7970 versus the dollar.
- GBP: 19.71
- Euro: 16.91
- Gold: 1857 USD
- Bitcoin: 29 235 USD