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 will be trading with caution today ahead of the FOMC meeting this afternoon. The local unit reached a high of 18.6750 in yesterday’s session after which it improved back to a level of 18.50 for today. The predicted trading range for the rand today is between 18.4000 to 18.9000.
Market focus today will be on the outcome of the Federal Open Market Committee interest rate decision due this afternoon. There is a possibility of easing the cycle, which could lend some support to the rand.
For the time being the USD/ZAR will trade in a sideways direction. Newly direction will start after the FOMC decision this evening.
Foreign Exchange Rates
At time of writing:
The Rand traded at 18.5115 versus the dollar.
Gold: 1949 USD
Bitcoin: 25 936 USD