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 improving somewhat as its trading at a level below 18.5000. Analysts said they are finding it difficult to see a current trend for the local unit as there is upcoming local and international data releases. The predicted trading range for the rand today is between 18.2500 to 18.7500.
Local data releases for this week include July money supply, private sector credit, budget numbers, July producer inflation and trade figures. Global market focus is making a shift towards Friday’s U.S. non-farm payrolls data.
Gold prices edged higher as the dollar and Treasury yields slipped from its recent high levels. The upcoming U.S. inflation and jobs data this week will provide clarity on the outlook for interest rates.
Foreign Exchange Rates
At time of writing:
The Rand traded at 18.4610 versus the dollar.
GBP: 23.27
Euro: 19.95
Gold: 1922 USD
Bitcoin: 25 980 USD
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