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 retreated to levels of 19.1000 at the time of close for yesterday’s session. The local unit traded weaker over the course of the week, while the extent of the losses has been limited, meaning any recovery for the rand will also be limited. The predicted trading range for the rand today is between 18.9000 to 19.4000.
Tension between the U.S. and China have escalated after China has banned their government workers from using Apple products. Apple’s stock market valuation has dropped by more than 6%, which is $200bn, in the last two days.
The rand has had a chaotic year, dropping more than 12% against the USD since the beginning of the year. Risk-sensitive currencies, like the rand is often influenced by global economic drivers such as the U.S. monetary policy.
Foreign Exchange Rates
At time of writing:
The Rand traded at 19.1002 versus the dollar.
Gold: 1924 USD
Bitcoin: 26 183 USD