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 positive range, holding stable below the 16.0000 level. In yesterday’s session, it reached a best level of 15.8600 but struggled to hold onto its gains. The predicted trading range for the rand today is between 15.7500 and 16.2500.
Any comments from the Federal Reserve are influencing the rand. The emerging market currency is trading at the hands of the stronger dollar. The Fed is hinting to continuous interest rate hikes as a way of curbing inflation even if it means that the economy might suffer.
Two years after the global Covid-19 pandemic started, South Africa has ended the mandatory use of face masks indoor as well as removed restrictions on gatherings. The country is currently experiencing very low infections and related deaths.
Foreign Exchange Rates
At time of writing:
The Rand traded at 16.0058 versus the dollar.
- GBP: 19.52
- Euro: 16.83
- Gold: 1830 USD
- Bitcoin: 20 638 USD