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Rand News Update │ Rand slightly weaker

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 trading slightly weaker after data released from the U.S. The local unit traded in a range of 18.55 and 18.76 during yesterday’s session. The predicted trading range for the rand today is between 18.5500 to 18.8500.


The U.S. inflation for February showed a slightly higher than expected number. CPI increased by 3.2% compared to a forecast of 3.1%. Markets are still expecting a rate cute in June, with a prediction of 67% chance. With a forecast of three rate cuts this year.


There is no local data due today, although it will experience influence by global drivers. The rand will look for support at 18.55, 18.43 and then a low of 18.32. The resistance levels for the rand are at 18.77, 18.88, following with a high of 18.99.

 

Foreign Exchange Rates

At time of writing:

The Rand traded at 18.7104 versus the dollar.

  • GBP: 23.92

  • Euro: 20.44

  • Gold: 2158 USD

  • Bitcoin: 72 617 USD

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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

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