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 positive level of 18.6000. On Friday we saw the local unit trading in a range of 18.8825 to 18.6975. After which it closed at a level of 19.7200. The predicted trading range for the rand today is between 18.5000 to 18.9000.
There are various important factors being released from international foreign exchange markets this week. Focus will be on central banks in Europe, China and Japan announcing interest rate decisions. The most significant decision would be the one of the FOMC due on Wednesday.
The rand gained more than 4% against the greenback last week. As the country is experiencing lesser power cuts and positive economic data, it supported the currency’s recovery in May.
Foreign Exchange Rates
At time of writing:
The Rand traded at 18.6197 versus the dollar.
Gold: 1964 USD
Bitcoin: 25 915 USD