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Rand News Update │ Rand limited in range of 18.60 to 18.70

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 traded in a limited range of 18.63 to 18.79 in yesterday’s session. The local unit remains in a positive territory, while focus will shift to U.S. CPI data. The predicted trading range for the rand today is between 18.5500 to 18.9000.


Market focus for today is on the U.S. CPI numbers due today. Core inflation is expected to increase by 0.3% and a year-on-year gain of 3.7%. If the inflation numbers are higher than expected, the dollar could stay higher for longer.


The rand’s improvement has been boosted by the ongoing improving dynamics in the country’s economy. There are signs that the power crisis is improving with the expectation of 10 megawatts coming online in the coming years. The rand will look for support at 18.58, 18.48 and then a low of 18.35. The resistance levels for the rand are at 18.81, 18.95, following with a high of 19.09.

 

Foreign Exchange Rates

At time of writing:

The Rand traded at 18.6627 versus the dollar.

  • GBP: 23.8905

  • Euro: 20.40

  • Gold: 2176 USD

  • Bitcoin: 72 080 USD

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Rand News Update │ Rand weaker at level of 18.70

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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