Rand News Update │ Rand trading cautious

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 will trade with caution today ahead of the South African Reserve Bank meeting due later today. In yesterday’s session the local unit a best level of 16.9525 for the day. The gains did not last long as it closed at a level of 17.0400.

The rand is in a limited trading range today, but a move below the 17.0000 level would be desirable for USD buyers. The next short-term technical level for the rand is at 17.2000. The predicted trading range for the rand today is between 16.9500 and 17.3500.

On Thursday we will get a new interest rate decision announcement by the South African Reserve Bank. Markets are expecting that the rand will find some support in tomorrow’s monetary policy update.

Foreign Exchange Rates

At time of writing:

The Rand traded at 17.1458 versus the dollar.

  • GBP: 20.57
  • Euro: 17.54
  • Gold: 1707 USD
  • Bitcoin: 23 432 USD

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

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