Dollar-Rand approaching all time low

[The_Ogre]

So, today is a sad day for our currency, its now at its second lowest all-time level. Fast approaching the R13.80 of 2002.

 

[Ockie]

Soon we can literally wipe our arses with it.

 

[Seriously]

Our Africa legacy comes to surface.

 

[Jehosefat]

Rand depreciation is always going to happen because of the interest rate differential, so at some point it will always reach a new all-time low regardless of how well or poorly our government or economy does...

 

[krycor]

I reckon it will break a new record low in the coming months but wont be recovering anytime soon

 

[Sinbad]

Rand depreciation is always going to happen because of the interest rate differential, so at some point it will always reach a new all-time low regardless of how well or poorly our government or economy does...

And why are rates high? Because our economy is badly structured and our government is not fixing it.

 

[Jehosefat]

And why are rates high? Because our economy is badly structured and our government is not fixing it.

Because we are more risky than say the US or Europe, we need to pay a premium in order to get foreign cash flows. At a high level, there are many other factors as well.

The government can't restructure an economy and honestly, it shouldn't try to. It can only put the right legislation in place that allows private enterprise to grow. I think we can agree that our government hasn't done this though.

 

[xumwun]

Soon we can literally wipe our arses with it.

Well you always could.
It's just going to be about the only thing that will become more affordable.

 

[grok]

Rand depreciation is always going to happen because of the interest rate differential, so at some point it will always reach a new all-time low regardless of how well or poorly our government or economy does...

You are such an optimist!

 

[yebocan]

Because we are more risky than say the US or Europe, we need to pay a premium in order to get foreign cash flows. At a high level, there are many other factors as well.

The government can't restructure an economy and honestly, it shouldn't try to. It can only put the right legislation in place that allows private enterprise to grow. I think we can agree that our government hasn't done this though.

Unions can not be dictating economic policy...

 

[Bernie]

Opened an FNB Global account, and have started depositing USD. I think its going to be a great investment (I hope )

 

[^^vampire^^]

VIVA Comrades! VIVA!

These morons probably see R10/$1 R12/$1 R13/$1 as progression.
Yoh Zumatello! Check it out, the rand is going up so much! We going to be rich!

 

[HavocXphere]

Good timing - needed to transfer money today.

 

[The_Ogre]

Good timing - needed to transfer money today.

You should consider adding your location. I had a WTF moment for a couple of seconds before I saw your nick and remembered where you're at

 

[airborne]

Oww, weird though despite this many like electronics and other manufacturered goods are still relatively cheaper than they ever have been. Imagine if we were back at R7/$

 

[HavocXphere]

You should consider adding your location. I had a WTF moment for a couple of seconds before I saw your nick and remembered where you're at

Indeed. Fixed it (vaguely).