How Zuma broke the rand

[Kevin Lancaster]

How Zuma broke the rand

The South African rand is the worst-performing currency out of 31 major and developing-nation currencies monitored by Bloomberg.

 

[RyanPCMR]

...and the worst part is that he's not done yet, whatever his agenda is, the guy is not and has never been presidential material!

 

[backstreetboy]

The graph below shows the volatility of the rand over the last year, which started after Zuma fired the finance minister in December 2015.

The rand was in crap loooooooooong before that. Clickbait headlines

 

[Agent_Smith]

The Rand was done the day the doctor said to his parents, "Congratulations, it's a boy".

 

[Thor]

Viva ANC Viva

 

[MagicDude4Eva]

That article should actually go back to 2009. Go to this site and set the chart to 10 years: http://www.xe.com/currencycharts/?from=USD&to=ZAR

No other currency in a developing country (Bolivar, Real, Rupee) shows a trend like ours over the last 10 years - gone are the days of R6/USD:


While it is true that commodities and general global recession has affected us, the currency devalued ever since the firing of potato-head Mbeki and gotten just worse with Zupta.

The most bizarre thing: All economists talk about the obvious state-capture and corruption but no-one seems to actually do anything about it.

On a side note: How are Oakbay employees surviving since the company should have had no bank-account since about June. Also quite strange that not a single employee (even anonymously) has said anything bad about the company. I did however chat to an ANN7 IT guy and was blown away by what is going on in the company.

 

[Thor]

I said it before if there was such a thing as a guaranteed return it's to go long on USD/ZAR

 

[sajunky]

It is Marcus who broke Rand, not Zuma.

 

[reactor_sa]

The Rand was done the day the doctor said to his parents, "Congratulations, it's a boy".

I'm almost positive they slapped Mrs Zuma and not dear Jacob. They had to have know that something was off with that one. Had to.

 

[grok]

TIA! The rules don't apply..

 

[Sensorei]

Holding thumbs it will bounce back when this Gordhan saga blows over. Hopefully it does so I can buy $

 

[Thor]

There is more to this Gordhan story and I think BAT is behind this as well.

 

[Kingofmybbknowitalls]

Zuma didn't brake Rand. Marcus did.

If only he did "brake" it, it would have meant he stopped the fall.

 

[Necropolis]

Don't be silly - Zoomer was done wonders - he is just cleaning up Mbeki's mess...

 

[Drifter]

Don't be silly - Zoomer was done wonders - he is just cleaning up Mbeki's mess...

If you want to a start a Friday thread, start a new topic. Wont achieve much if you hide it in an existing thread.

 

[Seriously]

You are necro allright!

 

[dualmeister]

Quickly looked at a quote dated 16 May 2013.

Rate of Exchange was R9.20 :wtf:

 

[Lupus]

Quickly looked at a quote dated 16 May 2013.

Rate of Exchange was R9.20 :wtf:

Look at this for the last five years

4 Sep 2011 00:00 UTC - 2 Sep 2016 07:04 UTC
USD/ZAR close:14.64810 low:7.06980 high:16.88446

It was R7 at one stage, I remember getting a lot of Steam deals back then.

 

[sajunky]

If only he did "brake" it, it would have meant he stopped the fall.

Sorry, will edit post. How other way I would get attention, anyway? I wrote about many times and now Editor comes up with the same headings. It is Marcus who broke Rand. Zuma is adding very little to the damage. Mostly by negative perception of corrupted official (ignited by press), not much by his actions.

 

[Vice]

These events need to be carefully analysed. I don't think it's coincidental that the events that are so detrimental to the economy occurred when the rand was doing so well Nobody can be this foolish! I'm starting to suspect no.1 is up to something here:twisted:. It may very well be that he intentionally wanted to weaken the rand for the benefit of something/someone Where are the analysts/researchers?