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 at a level of 19.00 in this morning’s trades. The local unit traded between a range of 18.75 and 19.0050 in yesterday’s session. The predicted trading range for the rand today is between 18.9000 to 19.3000.
Comments from the U.S. Federal Reserve allowed the USD to remain strong. The Fed suggested that while inflation remains high, rate cutting in March are less likely to happen. Local market focus today is on retail sales for November. Global market focus will be on the U.S. retail sales due later today.
The rand will look for support at 18.87, 18.73 and then a low of 18.49. The resistance levels for the rand are at 19.10, 19.24, following with a high of 19.38.
Foreign Exchange Rates
At time of writing:
The Rand traded at 19.0203 versus the dollar.
Gold: 2024 USD
Bitcoin: 42 675 USD