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 trading in a range of 15.5000 and 15.6000 level. Yesterday it reached its best level of 15.4850 for the day. The local unit will again today trade in a limited range. The predicted trading range for the rand today is between 15.5000 and 15.9000.
The rand found support from a positive manufacturing survey, which assisted in the currency holding onto its gains in a global market. Other accounting factors to the strong rand is the fact that high oil prices improved when Saudi Arabia announced it will produce more oil if Russia pulls out.
Gold prices declined as it found support from the marginally lower U.S. Treasury yields and tension from a stronger dollar.
Foreign Exchange Rates
At time of writing:
The Rand traded at 15.5210 versus the dollar.
- GBP: 19.44
- Euro: 16.59
- Gold: 1851 USD
- Bitcoin: 29 960 USD