Rand News Update │ Rand continuing downfall

money transfers and the african continent economy

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 continuing its downfall as the USD is improving significantly. The local unit reached a high of 16.8575 during last night’s session. Short-term technical indicators in the foreign exchange markets have recovered from the volatility of yesterday. The predicted trading range for the rand today is between 16.5000 and 17.0000.

Analysts are predicting that the rand could even suffer more losses, as it’s influenced by both domestic and external factors. The ZAR is one of the biggest let-downs in the emerging market area although there are global warning and uneasiness.

Russia has warned on multiple occasions that they are ready for a nuclear attack. This is the most serious geopolitical threat in 60 years. Former President Medvedev has warned that if Russia gets pushed hard enough, they will threaten humanity.

Foreign Exchange Rates

At time of writing:

The Rand traded at 16.7248 versus the dollar.

  • GBP: 20.07
  • Euro: 17.06
  • Gold: 1742 USD
  • Bitcoin: 20 522 USD

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