top of page

Rand News Update │ Rand showing strength

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 showed some strength during yesterday’s session to reach its best level of 19.06 at the time of close. The local unit’s performance exceeded expectations with the next support level now around 19.00. The predicted trading range for the rand today is between 19.0000 to 19.3000.


Fitch rating agency said yesterday that its not confident in last week’s budget speech, due to the government’s high spending. Federal Reserve spokesperson said yesterday that that are not in a rush to cut interest rates while inflation is still high. Analysts are suggesting the chances of a rate cut in June is around 51%.


The rand will look for support at 18.99, 18.88 and then a low of 18.72. The resistance levels for the rand are at 19.27, 19.43, following with a high of 19.59.

 

Foreign Exchange Rates

At time of writing:

The Rand traded at 19.2205 versus the dollar.

  • GBP: 24.27

  • Euro: 20.77

  • Gold: 2027 USD

  • Bitcoin: 58 924 USD

Recent Posts

See All

Rand News Update │ Rand weaker at level of 18.70

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

Comentarios


bottom of page