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Rand News Update │ Rand holding steady below 18.90 level

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 holding steady below a level of 18.9000. The local unit did trade relatively steady in yesterday’s session but did manage to reach its best level of the day at 18.7650. The predicted trading range for the rand today is between 18.6000 to 19.0000.

The U.S. released it U.S. CPI numbers for August yesterday, which came in slightly better than expected at 3.7% as to the expected 3.6%. The Federal Reserve is scheduled to meet next week to decide on the interest rates, although some analysts are expecting a 25-basis point increase only in November.

Local market focus today is on the country’s gold and mining productions figures for July. The rand will look for support at 18.72, 18.62 and then a low of 18.49. The resistance levels for the rand are at 18.93, 19.06, following with a high of 19.20.

Foreign Exchange Rates

At time of writing:

The Rand traded at 18.9073 versus the dollar.

  • GBP: 23.57

  • Euro: 20.28

  • Gold: 1906 USD

  • Bitcoin: 26 287 USD

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