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 still trading at level of 19.0000. The local unit traded between levels of 18.96 to 19.11 in Friday’s trading session. The predicted trading range for the rand today is between 18.7500 to 19.1500.
Local market focus this week will be on the inflation numbers and retails sales due on Wednesday. The South African Reserve Bank is scheduled to meet on Thursday to discuss the interest rate decision. Strategists are predicting that SARB will keep the rates unchanged, but analysts will use this information for insights on the country’s future course.
The rand will look for support at 18.93, 18.85 and then a low of 18.76. The resistance levels for the rand are at 19.10, 19.19, following with a high of 19.27.
Foreign Exchange Rates
At time of writing:
The Rand traded at 19.0000 versus the dollar.
Gold: 1926 USD
Bitcoin: 26 762 USD