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 18.60 as the new week started. The local unit was trading at level of 18.30 at the beginning of 2024, which since then we saw it trading as high as 18.9600 following the US NFP data. The predicted trading range for the rand today is between 18.4000 to 18.8000.
Markets are keeping a close eye on when the Federal reserve will swing their interest rate course. Important events that will affect markets this year include elections in the U.S. and South Africa. The number of global conflicts is still ongoing and is even expanding in various regions.
Markets will be relatively quiet today as U.S. markets are closed due to holiday. The rand will look for support at 18.52, 18.44 and then a low of 18.35. The resistance levels for the rand are at 18.69, 18.77, following with a high of 18.86.
Foreign Exchange Rates
At time of writing:
The Rand traded at 18.6909 versus the dollar.
Gold: 2051 USD
Bitcoin: 42 542 USD