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Rand News Update │ Rand reaching levels of 19.30

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 a level of 19.30 and will remain on the backfoot after last week’s budget speech. The local unit traded in a range of 19.2550 to 19.3550 during yesterday’s session. The predicted trading range for the rand today is between 19.1500 to 19.5000.


Global market focus will be on the U.S. Durable Goods and Consumer Confidence numbers due today. There are no major local data releases due for today. Later in the week we can expect producer price inflation, M3 money supply and private sector credit extension, trade and budget balance figures for January.


The rand will look for support at 19.25, 19.19 and then a low of 19.13. The resistance levels for the rand are at 19.36, 19.41, following with a high of 19.47.

 

Foreign Exchange Rates

At time of writing:

The Rand traded at 19.2423 versus the dollar.

  • GBP: 24.41

  • Euro: 20.88

  • Gold: 2036 USD

  • Bitcoin: 56 418 USD

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