Rand News Update │ Rand stable with little movement

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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 trading at a stable level with little movement in either direction. The local unit reached a high of 16.0500 in yesterday’s session, ending the day in the low 15.90s. Any movement to either direction was not sustained. The predicted trading range for the rand today is between 15.7500 and 16.2500.

Financial markets are still greatly influenced by the ongoing war between Russia and Ukraine. Other factors influencing the markets are the central banks’ interest rate activity and predictions and of course the effects of the global Covid-19 pandemic.

Gold prices were stable on Friday but prediction for more decreases is eminent. Investors are concerned about major central banks possibly initiating more interest rate increases as a way to curb increasing inflation which are dampening the gold’s demand.

Foreign Exchange Rates

At time of writing:

The Rand traded at 15.9172 versus the dollar.

  • GBP: 19.53
  • Euro: 16.78
  • Gold: 1826 USD
  • Bitcoin: 21 027 USD

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