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Rand News Update │ Rand improving to level of 18.30

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 latest money transfer news.

The South African rand is improving to levels of 18.3000. The local unit was trading at levels of 18.32 to a high of 18.53 in yesterday’s session. The rand is up with more than 2% against the dollar this week. The predicted trading range for the rand today is between 18.2000 to 18.7000.

Market data expected for today is local PMI numbers due and in the U.S., we can expect non-farm payroll numbers. Markets are expecting a jobs gain of 180k jobs, which is up 336k in September. The U.S. jobs figures will set the tone for global markets. We can also expect U.S. ISM PMI numbers out today.

The rand will look for support at 18.30, 18.18 and then a low of 18.05. The resistance levels for the rand are at 18.55, 18.68, following with a high of 18.81.

Foreign Exchange Rates

At time of writing:

The Rand traded at 18.3860 versus the dollar.

  • GBP: 22.42

  • Euro: 19.54

  • Gold: 1986 USD

  • Bitcoin: 34 440 USD

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