fivelza
Expert Member
Well i personally think exchange rate is a lame excuse in general, it just shows a company do not know how to plan : [the only exception is if the currency crash, which is NOT the case with the rand]
An increase from R410 to R475 = 15% ..... Surely companies have some sort of currency insurance / buffer at least for a MONTH out on importing ? I don't think companies should make the daily/weekly fluctuation of the $/R the consumer's problem , they should then consider getting better importing contacts. Surely importers don't do business like this? [oh, on friday the R/$ was R6.70, but on wednesday when i made the payment it was R8.00, sorry 15% increase for you! ]
If you look at your rates you have provided it showed that the Rand devalued by 23% (6.24 - 7.68), no business can afford to simply absorb this, and they will have to pass it on to the consumer.