Rand hits R15 vs the dollar amid downgrade threat

Four see the downgrade to BB+, which will put South Africa on par with Turkey and Indonesia, coming as early as next month, Bloomberg said.
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Odin!
 
So does this mean we are junk status now or is that still just a doom and gloom thing being thrown around?

Will it actually happen
 
Ho3n3r said:
Nope. 29 April it was R14.13 @13h00 UTC, it just went to R15.13 a few minutes ago.
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Yeah I know but the two big drops happened today and yesterday. Before that it hovered around R14.50 for quite sometime with peaks and dips.
 
Thor187 said:
So does this mean we are junk status now or is that still just a doom and gloom thing being thrown around?

Will it actually happen
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No, we are not junk status. And it in doom and gloom being thrown around either, we legitimately stand a chance of being downgraded.
 
Lupus said:
Yeah I know but the two big drops happened today and yesterday. Before that it hovered around R14.50 for quite sometime with peaks and dips.
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:erm:

My exact statement was: ''So it has fallen R1 in less than a week now."
 
Ho3n3r said:
:erm:

My exact statement was: ''So it has fallen R1 in less than a week now."
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Yeah but it only briefly touched 14.13 the average has been closer to R14.50
 
1234567 said:
No, we are not junk status. And it in doom and gloom being thrown around either, we legitimately stand a chance of being downgraded.
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I've heard about this chance of downgrade ever since I can remember yet it never happens so how legitimate is the possibility in reality?

10% or 95% in other words is about to happen?

Then when will it be decided if we are or not?

Then if we are what will be the immediate effect?
 
Thor187 said:
So does this mean we are junk status now or is that still just a doom and gloom thing being thrown around?

Will it actually happen
Click to expand...

I'd be surprised if it didn't.. like i said in another thread, from what i've read.. the ratings window period is near complete and SA has not done enough in 90% of the window to not justify a downgrade. Sadly for the ANC they can't talk their way out of this one so its gonna happen.. just been a question of when. The end of the period is 2017.. but many suspect the rating agencies will do it before end of year.
 
krycor said:
I'd be surprised if it didn't.. like i said in another thread, from what i've read.. the ratings window period is near complete and SA has not done enough in 90% of the window to not justify a downgrade. Sadly for the ANC they can't talk their way out of this one so its gonna happen.. just been a question of when. The end of the period is 2017.. but many suspect the rating agencies will do it before end of year.
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I dont like open ended stuff I need Data.

The windows was between Date X and Date Y

The final decision is on Date B

Otherwise it's like God is coming the end is near.
 
Ho3n3r said:
And?
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I do get what you're saying by the way but with the volatility of the currency and it briefly touching R14.13 a week ago doesn't mean it dropped a rand in a week, it wasn't really there long enough to warrant that. Looking through the trends it's about on par with what it was a month ago. Unfortunately it's very volatile and you probably would've never have been able to buy Dollars at R14.13 when it hit that as it shifted so quickly.
The problem is the dollar only has to gain 0.2% and we see our side lose a lot more, the dollar has strengthened a bit today as well.
 
Thor187 said:
I dont like open ended stuff I need Data.

The windows was between Date X and Date Y

The final decision is on Date B

Otherwise it's like God is coming the end is near.
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Rating agencies do believe they god like.. :p

but ya i hear ya.. rating agencies are basically the abomination of a system to keep things in check and now people need to be aware that even they are bribed so meh.. but thats another story
 
I've changed my profile location to suit what is happening with the country.

You guys should do the same
 
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