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 continues to trade below a level of 19.00 as it reached its best level of 18.91 in yesterday’s session and a high of 19.05. The predicted trading range for the rand today is between 18.7500 to 19.1500.
All eyes are on the U.S. Federal Reserve announcement later tonight. Analysts will look for insight into the progress of the world’s biggest economy. The rate decision will also spark new direction for the local unit. Tomorrow’s market focus will be on the South African Reserve Bank’s interest rate decision.
The rand will look for support at 18.87, 18.81 and then a low of 18.72. The resistance levels for the rand are at 19.03, 19.12, following with a high of 19.21.
Foreign Exchange Rate
At time of writing:
The Rand traded at 18.9350 versus the dollar.
GBP: 23.42
Euro: 20.25
Gold: 1929 USD
Bitcoin: 27 083 USD
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