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 at a level of 18.80. The local unit strengthen on Friday to reach a level of 18.70. The predicted trading range for the rand today is between 18.6000 to 19.0000.
Global market focus this week is in the Federal Open Market Committee meeting this week. Analysts are suggesting that rates will only be lowered in March. The Federal Reserve along with other central banks as the European Central Bank, have pushed back against market expectation of rates cuts in the next couple of months.
Oil prices spiked after two separate attacks in the Middle East. One of the attacks resulted in three U.S. troops being killed and 25 injured in the Syria/Jordan border. President Joe Biden vowed that the U.S. would retaliate.
Foreign Exchange Rates
At time of writing:
The Rand traded at 18.7940 versus the dollar.
Gold: 2025 USD
Bitcoin: 42 334 USD