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 18.80 on Monday morning. During Friday’s session the local unit traded in a rage between 18.77 to a high of 18.95. The predicted trading range for the rand today is between 18.6000 to 19.0000.
Global market focus this week will be on inflation data due from some of the world’s biggest economies. On Friday we can expect a speech by U.S. Federal Reserve Chair Jerome Powell. Local market focus for this week will be on trade and budget balance and supply-side inflation data.
The rand is still trading on the back foot as South Africa is struggling with the consequences of the ongoing electricity supply issues. Risk-sensitive currencies, like the rand, often take cues from both local and global events.
Foreign Exchange Rates
At time of writing:
The Rand traded at 18.7640 versus the dollar.
Gold: 2013 USD
Bitcoin: 37 348 USD