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 again trading below a level of 17.7000. In yesterday’s trading session the local unit briefly traded above a level of 18.0000 after which it made marginal gains to its best level of 17.7275. The predicted trading range for the rand today is between 17.4500 to 17.9500.
Short-term technical indicators suggest that the ZAR is in overbought territory. Should the rand carry on in this positive trend, the USD could face some buying interest. The next technical objective is around a level of 17.5000.
Leaders in China has said that they will step in to help the economy as they are still recovering from a post-COVID effects. Some regions like North America and Europe are showing signs of improving inflation, although not enough.
Foreign Exchange Rates
At time of writing:
The Rand traded at 17.7033 versus the dollar.
Gold: 1959 USD
Bitcoin: 29 135 USD