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 reached below a level of 17.9000 in yesterday’s trades, to reach its best level of 17.8050 on the day. The local unit struggled to hold onto its gains made as there was some support for the USD. The predicted trading range for the rand today is between 17.7000 to 18.2000.
Local market focus was on the CPI data release today. The country’s inflation rate dropped below the central bank’s target for the first time in 14 months. The South African Reserve Bank is scheduled to make a policy decision tomorrow. After today’s better than expected data, predictions are that the interest rate will stay unchanged.
Foreign Exchange Rates
At time of writing:
The Rand traded at 17.9410 versus the dollar.
Gold: 1977 USD
Bitcoin: 29 972 USD