Rand News Update │ Rand reached target level of 15.60

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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 reached a level of 15.6000 during yesterday’s session. The local unit opened yesterday’s session at 15.8000 after which it managed to hold onto its gains and reach its next target level. The predicted trading range for the rand today is between 15.5000 and 16.0000.

The ZAR improved on Tuesday even though there are concerns of a delayed global economic recovery. The USD has decreased, and gold prices spiked of which the metal is a hug export for South Africa. Local data releases for today are a financial stability report from the central bank.

Oil prices increased, as it’s maintained by limited supplies and the possibility of increasing demand as the United States’ summer diving season is starting. America is the world’s largest crude consumer.

Foreign Exchange Rates

At time of writing:

The Rand traded at 15.5866 versus the dollar.

  • GBP: 19.48
  • Euro: 16.64
  • Gold: 1856 USD
  • Bitcoin: 29 816 USD

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