Get ready for R16, R17 or even R19 to the dollar this year: economists

[BusinessTech]

Get ready for R16, R17 or even R19 to the dollar this year: economists

South Africa's currency has taken a beating since it was revealed that finance minister Pravin Gordhan is facing criminal charges - but even more pain lies ahead.

 

[Albert Broco]

If the Pravin saga unfolds with an arrest in the next week or two and his dismissal, the Rand would probably reach R17-R18 to the Dollar in about 3 days. I suspect the fall will continue to around R19-R20 by the end of the year. By then the credit downgrade will be inevitible and a further drop, before January 2017 to around R25-R30 to the Dollar will not be impossible.

This will not be a problem as big as anyone thinks, SA can still recover, but the country will do so ONLY if the ANC stands down.

 

[LazyLion]

They said the same thing eight months ago...
http://mybroadband.co.za/news/business/151537-the-rand-could-fall-to-r19-economist.html

 

[xtm]

quite agree with Albert
rand can hit as low as 30 to 40 that's not impossible...

 

[Necropolis]

They said the same thing eight months ago...
http://mybroadband.co.za/news/business/151537-the-rand-could-fall-to-r19-economist.html

Exactly what I was thinking...