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 has reached level of 18.7000 in yesterday’s trading session. The local unit traded at a high of 18.7725 by the time of close, although it opened this morning at a level of 18.6800. The predicted trading range for the rand today is between 18.5000 to 19.0000.
Market focus today will be on the U.S. data releases which consist of non-farm payrolls, unemployment, average hourly earnings, and participation rate releases. The current trend the ZAR is on, suggest a spike to a level of 19.0000. Market liquidity will also be high ahead of the weekend.
As the risk-off sentiment continues the rand will trade firmly on the back foot. The rand traded very strong in July but managed to weaken with 6% against the dollar this week.
Foreign Exchange Rates
At time of writing:
The Rand traded at 18.7020 versus the dollar.
Gold: 1933 USD
Bitcoin: 29 159 USD