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 maintaining its gains made during yesterday’s session, with a current level of 19.1700. The local unit traded in a range of 19.16 to 19.33 in yesterday’s trading session. More gains are likely to be limited in the short term.
Local data due today is the purchasing manager’s index (PMI) survey. Analysts will use this data to look for insight on the health of the economy. Gold prices increased to a month high on Friday, while trades wait on remarks from several Federal Reserve officials.
The rand will look for support at 19.13, 19.05 and then a low of 18.95. The resistance levels for the rand are at 19.31, 19.41, following with a high of 19.50.
Foreign Exchange Rates
At time of writing:
The Rand traded at 19.2059 versus the dollar.
GBP: 24.26
Euro: 20.77
Gold: 2043 USD
Bitcoin: 61 658 USD
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