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 is showing very good improvement after we saw the local currency trading at a level of 18.4200 on last week Thursday. South Africa had a holiday on Friday, but the rand encountered some strength to trade at its best level of 18.1250 for the day. The predicted trading range for the rand today is between 18.0000 to 18.4000.
The rand showed a very good improvement in June so far after its big losses in May. Local investors will look be looking at May’s inflation for any insight on the health of the economy. It is a bank holiday in the U.S, so markets will be somewhat subdued.
Asian shares along with gold prices are slightly lower today after the Federal Reserve’s announcement of pausing the interest rates. Asian shares are also affected by China’s rate decision.
Foreign Exchange Rates
At time of writing:
The Rand traded at 18.1740 versus the dollar.
Gold: 1957 USD
Bitcoin: 26 407 USD