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 below a level of 19.00 as it traded in a range between 18.95 to 19.05 in yesterday’s session. This morning the local unit traded at 18.6000 against the dollar which is 0.5% stronger than its previous close. The predicted trading range for the rand today is between 18.7500 to 19.2500.
Topics on the BRICS summit’s agenda include possible expanding membership of the BRICS grouping and boosting the use of local currencies. Russia’s president, Vladimir Putin, will be joining the summit virtually.
Local market focus is on the release of monthly inflation figures. Global market focus will be on the central bankers meeting in Jackson Hole. Federal Reserve Chair, Jerome Powell said that there won’t be much to discuss.
Foreign Exchange Rates
At time of writing:
The Rand traded at 18.7852 versus the dollar.
Gold: 1900 USD
Bitcoin: 26 100 USD