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Rand News Update │ Rand continue to trade weaker above level of 19.00

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 continue to trade weaker at a level above 19.00. The local unit reached a high of19.1825 by the time markets closed yesterday. The predicted trading range for the rand today is between 18.9000 to 19.3000.


The USD is gaining support as markets make peace with the fact that rates won’t be decreased in March. Local retail sales for November released yesterday, shows an expected decline of 0.9%. Today we can expect Gold and Mining Production numbers. Global markets are pricing in a 56% chance of 25 basis points cut in March by the Federal Reserve.


The rand will look for support at 18.94, 18.82 and then a low of 18.70. The resistance levels for the rand are at 19.18, 19.30, following with a high of 19.43.

 

Foreign Exchange Rates

At time of writing:

The Rand traded at 18.9931 versus the dollar.

  • GBP: 24.10

  • Euro: 20.67

  • Gold: 2011 USD

  • Bitcoin: 42 813 USD

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Rand News Update │ Rand reaching levels of 19.30

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

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