I seriously doubt it will be sustained as inflation is going up and even with 50 basis point change coming in months ahead.. The inflation numbers, GDP and hitting junk status will send the rand the other way. Gov has set this up badly and we kinda hanging on a knife edge
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Rand breaks through R15/$
- Thread starter Kevin Lancaster
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Arthur
Honorary Master
Correction: the Rand has NOT broken through "R15 to the dollar" -- it's currently R15.2129 to the dollar. In other words, it takes R15.21 to buy one US dollar.
The writer of the article seems quite unaware of the difference between Buy Rate and Sell Rate. The sentence in the article says "R15 to the dollar" so he is talking about Sell Rate. And the wrong rate is quoted.
If you are buying Rand (ie converting US dollars to Rand), you will get R14.6957 for each US dollar.
If you are buying US dollars (ie selling Rand), it will cost you R15.2129 for each US dollar you buy.
The writer of the article seems quite unaware of the difference between Buy Rate and Sell Rate. The sentence in the article says "R15 to the dollar" so he is talking about Sell Rate. And the wrong rate is quoted.
If you are buying Rand (ie converting US dollars to Rand), you will get R14.6957 for each US dollar.
If you are buying US dollars (ie selling Rand), it will cost you R15.2129 for each US dollar you buy.
Last edited:
SauRoNZA
Honorary Master
Unrealistic because the analysts view is that it's worth about R14 last time I checked.
Hamster
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So completely unrealistic to have it back at R8 come 2020?
SauRoNZA
Honorary Master
Hey I'm not a fortune teller.
Things mine change dramatically by then.
But it "should" be at R14 now all things considered essentially.
C4Cat
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See what happens tomorrow at the Constitutional Court judgement on the Nkandla case.
Someone is bound to say something stupid and the ruling itself will have implications regarding the powers of the public protector...
Spot prices are used, which is halfway between the two price points
Well, for something to have value, it must be in demand, what demand is there for ZAR? I predict R22/US$ by December. There isn't exports, the drought is forcing us to import produce, the manufacturing sector is down...you can't rely on the pen pushers in Sandton(the financial mecca of SA) to hold the Rand steady...