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, or want the latest money transfer news.
The South African rand and dollar pair is trading in a very limited range as there is increasing uncertainty around the world. The local unit traded in a range of 19.29 to 19.44 in yesterday’s trading session.
Data releases for today, we have the national census results due. As the tensions are growing in Middle East, the Israeli Shekel suffered massive losses to trade at its weakest in 8 years. Investors will be moving over to safe have currencies like the U.S. dollar.
The rand will look for support at 19.27, 19.18 and then a low of 19.10. The resistance levels for the rand are at 19.43, 19.52, following with a high of 19.61.
Foreign Exchange Rates
At time of writing:
The Rand traded at 19.3033 versus the dollar.
Gold: 1856 USD
Bitcoin: 27 665 USD