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 is back up to trade at levels of 18.90s. The local unit opened yesterday at a level of 18.75 but spent most of the day trading in a range between 18.78 and 18.85. It reached a high of 19.02 during the overnight session. The predicted trading range for the rand today is between 18.8000 to 19.2000.
The weakening rand comes after South Africa’s third-quarter gross domestic product data showed a reduction slightly more than expected. The ZAR is very susceptible to strong moves from the USD. It will keep on with the current trend in the short-term.
The rand will look for support at 18.90, 18.78 and then a low of 18.63. The resistance levels for the rand are at 19.06, 19.18, following with a high of 19.29.
At time of writing:
The Rand traded at 18.9324 versus the dollar.
Gold: 2027 USD
Bitcoin: 43 799 USD