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 strong at a level of 15.4000. On Friday the local unit made a good recovery to trade at its best level of the day at 15.3775. U.S. payroll released on Friday resulted in some price action in the rand, which made the currency trade above 15.5000. The predicted trading range for the rand today is between 15.3500 and 15.7500.
The U.S. dollar has encountered some weakness as Treasury yields lost momentum. Market sentiment is mostly cautious this morning as oil prices keeps increasing which is causing inflationary concerns. Oil producers are taking advantage of the rigid supply environment and will increase production.
The ZAR will find some resistance later today as U.S. payroll data is expected. With the pair trading at the 15.4000 mark, it will encourage some USD buyers to take advantage.
Foreign Exchange Rates
At time of writing:
The Rand traded at 15.4038 versus the dollar.
- GBP: 19.32
- Euro: 16.54
- Gold: 1852 USD
- Bitcoin: 31 253 USD