Rand News Update │ Rand aims for 15.0000 level

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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 is aiming for a level of 15.0000, as it reached its best level of 15.2600 is yesterday’s session. As the local unit closed last night and opened today below the sub 15.3000 level, it shows that the currency is resilient. The predicted trading range for the rand today is between 15.1000 and 15.6000.

Local focus today will be on data released from South Africa’s central bank, which will of first-quarter current account numbers. Analysts are expecting data to show an increase of 1.5% of GDP against 1.9% increase in the fourth quarter.

Oil prices increased once again as Chinese exports were firmer, which support the global growth. This means that Chinese economy is recovering well from the recent lockdowns. The only negative is that supply constraints might be a possibility.

Foreign Exchange Rates

At time of writing:

The Rand traded at 15.2212 versus the dollar.

  • GBP: 19.05
  • Euro: 16.32
  • Gold: 1850 USD
  • Bitcoin: 30 570 USD

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

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