Rand Nosedives vs Dollar

Rand Nosedives But Should Recover

The USA (Trump) and Turkey have been going at each other over tariffs and such and it has been negatively affecting the Dollar to Turkish currency (Lira) which, in turn, has been having something of a negative knock on effect on many emerging market currencies, such as the Rand.

As a result, the Rand dropped to a 2 year low of R15.41 to the dollar at one stage (last time it was that low was during all that ongoing political upheaval back in 2016).

By the time the sun rose locally on Monday morning, it was back under R15/Dollar and had reached R14.75 to the dollar.

Euro & British Pound

The Rand also temporarily fell to R17.41 to the Euro and a scary R19.49 to the UK Pound

Economists are saying not to panic and that the Lira is already recovering and with it the Rand and other affected currencies. It does seem that things are stabilising even though markets around the world echoed the drop and subsequent rise.

 

Check the Rand To Dollar

You are able to check the current Rand to Dollar and other currencies right here on www.debtfreedigi.co.za with our live price feed from google at the bottom of every page. Be sure to scroll down (all the way down) and check it out right now. You will see the rates displayed in the orange colour blocks.

 

 

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