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 improved to levels of 18.90s in this morning’s trading session. On Friday the local unit traded between a range of 19.0300 to 19.1400. The predicted trading range for the rand today is between 18.8500 to 19.3500.
Global market focus this week will be on the U.S. August CPI and PPI numbers due on Wednesday. The USD continues to trade strong even though the global economy is not thriving. The European Central Bank will announce their rate decision this week too. Local market focus is on the manufacturing production, gold, and mining productions numbers due this week.
The short-term technical support levels for the rand are at 19.03, 18.94 and ultimately 18.86. The resistance levels for the rand are at 19.20, 19.27 and a high of 19.35.
Foreign Exchange Rates
At time of writing:
The Rand traded at 18.9200 versus the dollar.
Gold: 1927 USD
Bitcoin: 25 800 USD