Rand sinks R11.2833 to the dollar

[Ghost02]

11.70 now!

Don't joke

 

[Abe]

Our biggest problem was the monthly deficit. A weaker rand does wonders for the export market and should help to fix the big monthly deficit. Obviously petrol prices and inflation are a factor but the sooner we stop buying a lot of imported goods, the better for us.

 

[Abe]

$ = R 11.71
£ = R 19.06
€ = R 15.05
Oil = $ 62.03
Gold = $ 726.3
Last update:
22 Oct 2008 20:10:02

 

[sand_man]

ouch!!

 

[sand_man]

world is in chaos right now,

And that just about sums it up...

 

[Ghost02]

$ = R 11.71
£ = R 19.06
€ = R 15.05
Oil = $ 62.03
Gold = $ 726.3
Last update:
22 Oct 2008 20:10:02

Thats some crazy ****

 

[hj2k_x]

$ = R 11.71
£ = R 19.06
€ = R 15.05
Oil = $ 62.03
Gold = $ 726.3
Last update:
22 Oct 2008 20:10:02

Wow, that is crazy. Surely the biggest single-day drop yet?

 

[PeterCH]

11.7155 to dollar

 

[AirWolf]

http://www.forexdirectory.net/zar

R11.7648

How come the gold price is also eating dust?

 

[Jase]

Really scary!!!

 

[PeterCH]

Really scary!!!

Being told you have a lymphoma is scary. To see the Rand drop to its toilet paper status is just inevitable - judging by the way our government is running things. No problem -- they'll just increase their own salaries to be able to afford the imported sports cars, yachts and designer clothes.

 

[Jase]

Being told you have a lymphoma is scary. To see the Rand drop to its toilet paper status is just inevitable - judging by the way our government is running things. No problem -- they'll just increase their own salaries to be able to afford the imported sports cars, yachts and designer clothes.

Been there , at least the medical aid covered most of that one. Who will cover a job loss in my family is my main concern.

 

[PeterCH]

Been there , at least the medical aid covered most of that one. Who will cover a job loss in my family is my main concern.

Oh you were very lucky then. Good for you for surviving it.

 

[NameOfBeast]

23/10/2008, 6:30 am, Moneyweb is showing:
11.75 $
19.02 ₤

 

[Ghost02]

23/10/2008, 6:30 am, Moneyweb is showing:
11.75 $
19.02 ₤

I don't like where this is going

 

[AirWolf]

R11.3095 - seems to be strengthing a bit.

 

[Alan]

Um wasn't the dollar supposed to have become worthless by now

 

[AirWolf]

Um wasn't the dollar supposed to have become worthless by now

In theory yes, but when there are financial problems, people dump emerging market currencies and stocks (read: us) for "safe" havens such as the dollar and gold, which is why I don't understand the gold price weakness.

 

[Abe]

Um wasn't the dollar supposed to have become worthless by now

Money is being pulled out of the emerging markets and risk markets and being put back into the US.

It's a bit crazy as the US was the one that started this whole mess with their sub-prime lending.

 

[squirrel]

I'm supposed to be going overseas next year for a few months This sucks.