Rand below R14.50 vs the dollar ahead of Brexit vote

[BusinessTech]

Rand below R14.50 vs the dollar ahead of Brexit vote

The South African rand eyed a consolidated move below R14.50 against the US dollar ahead of a British referendum on whether to remain a part of the European Union (EU), on Thursday.

 

[Milano]

R14.50 never looked this good.

 

[Agent_Smith]

I'll never understand this exchange rate. A few days ago, the rand sunk back below (or above, depending how you look at it) the R15/$ mark on the back of a possible EU exit and now it's strengthening on the back of a possible EU exit.

*sigh*

 

[Garson007]

I'll never understand this exchange rate. A few days ago, the rand sunk back below (or above, depending how you look at it) the R15/$ mark on the back of a possible EU exit and now it's strengthening on the back of a possible EU exit.

*sigh*

The only facts we have is the actual exchange rate. Everything else is just postulations.

 

[ScottulusMaximus]

I'm pretty sure it has more to do with the Nigerian devaluation than the Brexit vote.

 

[Lupus]

If I am looking right we dropped to 15.30 this morning wtf!!!

 

[Hamster]

If I am looking right we dropped to 15.30 this morning wtf!!!

Yes, but look at its exchange rate against the pound

 

[Hamish McPanji]

If I am looking right we dropped to 15.30 this morning wtf!!!

It dropped furthur than that, then recovered

 

[Lupus]

Saw that, but the world doesn't work in pounds scary how it dropped

 

[Lupus]

It dropped furthur than that, then recovered

Would be nice if it went under 15 again.

 

[yebocan]

traders heading to safe havens like gold and the Yen...welcome to the fun of the uncertainty realm...volatility is going to be name of the game, for some time to come.

 

[Lupus]

Out of interest how do banks calculate the amount I need to pay? As I want to purchase something on CDKeys and yesterday it was basically 15 to 1 when I bought the one item, I'd like to get another but not sure if it's going to knock me 15 or more?

 

[Sinbad]

 

[freddster]

I'll never understand this exchange rate. A few days ago, the rand sunk back below (or above, depending how you look at it) the R15/$ mark on the back of a possible EU exit and now it's strengthening on the back of a possible EU exit.

*sigh*

People are buying Rands with forex trading, they know its gonna freefall once the result of a major event is made. It volatile so when it strengthens they buy Rands, when it lose value they sell and make profit.

 

[Drifter]

R15.60 now, -6.66%

 

[ScottulusMaximus]

I'm pretty sure it has more to do with the Nigerian devaluation than the Brexit vote.

Oooooooooor maybe not