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 traded in erratic behaviour in yesterday’s session as it stated off from a high of 19.0350 to its best level of 18.6600 for the day. The predicted trading range for the rand today is between 18.6500 to 19.0500.
The dollar weakened slightly on Thursday, after data showed a small rise in U.S. inflation in July. Gold prices also declined after this data was released, which is worst week for the precious metal in 7 weeks.
Local manufacturing data released yesterday, showed that output increased more than the expected 5.5% year on year in June. Mining output increased 11% year on year in June. This is some positive news for the South African economy.
Foreign Exchange Rates
At time of writing:
The Rand traded at 18.8710 versus the dollar.
Gold: 1918 USD
Bitcoin: 29 385 USD