Rand News Update │ Rand improved to trade in low 15.60s

coins

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 improved to trade in the low 15.6000 level. The local unit has been trading in a range of 15.5650 to 15.8000 for the week, as there are no definitive movement in either direction. The predicted trading range for the rand today is between 15.5000 and 15.9000.

The greenback’s decline came as the Federal Reserve indicated to a possible pause on monetary policy tightening in the second half of the year. The rand is trading 0.16% stronger against the dollar compared to its previous close.

The ZAR has benefited from the weaker USD. Analysts are predicting a possibility of further strength for the rand in the short-term.

Foreign Exchange Rates

At time of writing:

The Rand traded at 15.6455 versus the dollar.

  • GBP: 19.73
  • Euro: 16.79
  • Gold: 1859 USD
  • Bitcoin: 29 057 USD

To start sending and receiving money today, download the SFX app now on Android or iOS

Share This Post

Share on facebook
Share on linkedin
Share on twitter
Share on email

We Would Love To Hear From You!

More To Explore