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 moving closer to a level of 19.00 as it traded between a range of 18.95 and 19.00 for most of yesterday. The predicted trading range for the rand today is between 18.8000 to 19.2000.
Local market focus for today is on the country’s third quarter current account data being released by the South African Reserve Bank. Analysts are predicting a shortfall of 111 billion rand. Global market focus will move towards the payrolls data from the U.S.
The usual trend of the USD/ZAR pair shows a drop in December. Although this year there are signs that it will not copy that negative seasonal trend. The pair is set to challenge key resistance levels.
Foreign Exchange Rates
At time of writing:
The Rand traded at 18.9825 versus the dollar.
Gold: 2033 USD
Bitcoin: 43 639 USD