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 struggled to hold onto its gains made after it reached its best level of 18.81 in yesterday’s session. The USD will continue to trade with caution ahead of next week data releases, which lends support to the rand. The predicted trading range for the rand today is between 18.7000 to 19.1000.
Yesterday’s outcome of the SARB MPC meeting resulted in interest rates being left unchanged. Market focus will now move towards the Federal Reserve and U.S. data due next week. Data releases for today is the U.S. December edition of the PCE core deflator. The Federal Reserve uses this data to gauge inflation.
Analysts are expecting that the Fed will leave rates unchanged next week, but the anticipation clings on when they will begin to cut rates.
Foreign Exchange Rates
At time of writing:
The Rand traded at 18.9291 versus the dollar.
Gold: 2021 USD
Bitcoin: 39 900 USD