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 steady ahead of all the local data due today. The local unit didn’t change much from yesterday’s close at 18.89 to and opening level of 18.90 against the dollar this morning. The predicted trading range for the rand today is between 18.7500 to 19.0500.
Local data due for today is the December manufacturing production figures. President Cyril Ramaphosa’s annual address to parliament will also take place later this afternoon. This will be Ramaphosa’s last SONA of his current term.
Global focus will turn to various central banks speakers for the Federal Reserve, European Central Bank and Bank of England. Their comments today could influence offshore market sentiment. The U.S. will also be releasing their weekly jobless claims today.
Foreign Exchange Rates
At time of writing:
The Rand traded at 18.8871 versus the dollar.
Gold: 2033 USD
Bitcoin: 44 473 USD