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Rand News Update │ Rand trading in range of 18.60-70

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 in a range of 18.60 to 18.70. The local unit reached its best level of 18.58 on Friday ahead of the U.S. NFP data. After this, the USD bounced back and cause the rand to trade back to a level of 18.70. The predicted trading range for the rand today is between 18.5500 to 18.8500.


The U.S. NFP numbers was stronger than expected, although the unemployment rate dropped. Markets are now pricing in a 49.1% chance of the Federal Reserve cutting rates in June. This is the same with the European Central Meeting, also pricing in a rate cut in June.


Local market focus this week is on the Gold and FX reserves, Gold and Mining Production and Manufacturing Production numbers due this week. Global focus will shift to the U.S. CPI report due on Wednesday.

 

Foreign Exchange Rates

At time of writing:

The Rand traded at 18.6438 versus the dollar.

  • GBP: 23.53

  • Euro: 20.19

  • Gold: 2336 USD

  • Bitcoin: 70 124 USD

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Rand News Update │ Rand weaker at level of 18.70

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

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