Rand sinks R11.2833 to the dollar

[FnuckNut]

What a mess. ??? So much for we are OK during the international crisis.

http://www.fin24.co.za/articles/default/display_article.aspx?Nav=ns&ArticleID=1518-2385-2396_2414205

Should have bought for Christmas when it was below R8.00 now it will have to be a long saving spree before we buy again. Christmas is going to suck at this rate.

 

[feo]

702 reported that the Rand fell from R10 to R11 per USD in the spaces of a few MINUTES, that was pretty insane!

 

[.geek]

Rand/Dollar over the last 3 months:

http://moneyweb.profile.co.za/moneyweb/sharedata/data/indicators/graphs/RandDollar_3monthChart.png

Ouch...

How long until prices of imported good start increasing dramatically?

 

[Kaiser]

How long until prices of imported good start increasing dramatically?

About... now.

 

[ld13]

What a mess. ??? So much for we are OK during the international crisis.

Since when does an RX / US$ exchange rate mean we are Not OK?

 

[Kaiser]

Since when does an RX / US$ exchange rate mean we are Not OK?

Um... because we don't live on an isolated island somewhere. We live in one world we the $ affects everyone.

 

[Fudzy]

What did we do in that period of 2001?

 

[sand_man]

Thankfully oil is below $70 to the barrel cause if it were still at the $130-$140 levels of only a few months ago we would be well and truly KO'd... I've never seen market volatility as we seeing now, it's absolutely frightening...

On the other hand for those of us that are cash flush, there many bargains to be had on the stock markets at the mo...

Also if you're looking to becoming a 1st time home owner, now would be the ideal time to take the leap...

 

[Fudzy]

Also if you're looking to becoming a 1st time home owner, now would be the ideal time to take the leap...

That's if your job is stable enough.

 

[Ghost02]

depression starts to sink in

 

[sand_man]

That's if your job is stable enough.

mmm... and that's not necessarily a given in the current environment. I'm sure many companies have begun trimming that excess fat that they cannot afford in these lean times...

 

[sand_man]

depression starts to sink in

Yeah it is depressing... hang in there, if you can survive this...

 

[Ghost02]

Maybe this is passport time, imagine if you could get paid in dollars now living in another country. . . our local online shops will seem so cheap.

 

[Hosehead]

Maybe this is passport time, imagine if you could get paid in dollars now living in another country. . . our local online shops will seem so cheap.

Grass ain't greener anywhere else- not even in Dubai. I'd hate to be an ex-pat there living in uncertainty.

 

[sand_man]

Maybe this is passport time, imagine if you could get paid in dollars now living in another country. . . our local online shops will seem so cheap.

I think this is vasbyt, dig a trench, sit and wait time.

 

[Lord Anubis]

On the positive side..everything we export to first world countries and paid in $ gives us more R's

 

[Smooth Criminal]

On the positive side..everything we export to first world countries and paid in $ gives us more R's

Which isn't going to make any difference once inflation comes into play

 

[werner]

from across the pond point of view, the £/$ rate was a very nice 2.07$/£ earlier this year...pound has now loast around 20% of its perceived value and is sitting at 1.61 right now...down from 1.69 last night, long term average seems to be about 1.50, so i suspect it'll go down to about 1.45 and then maybe come back a bit.

this is pretty bad for UK tech industry...everything we buy is in dollars, same as s.a., and prices have gone up around 30% as a result..

so that £299 laptop suddenly becomes a £399 laptop. right when the recession starts. oooeerrr....not a merry christmas approaching chaps.

world is in chaos right now, watching xe.com is actually an exciting thing to do during lunchtime.

 

[phiber]

11.70 now!

 

[phiber]

People have pulled investments out of SA as they are worried about the market, this coupled with our election next year, means we might not see improvements till September next year.