Rand takes a hit

[BusinessTech]

Rand takes a hit

The rand took a hit on Wednesday after US President Donald Trump said a ceasefire with Iran was "over".

 

[Bad Ballie]

Rand has been taking a hit for over 30 years. this is no different.

 

[Smiggles]

Rand has been taking a hit for over 50 years. this is no different.

tiftfy. I remember when it was $2 for R1.

 

[Agent_Smith]

Huge purchases made, ceacefire over announced, prices skyrocket, sell off, announce new ceasefire, prices recede, huge purchases made etc etc etc

 

[Wut]

tiftfy. I remember when it was $2 for R1.

How old are you?

 

[Pegging]

How old are you?

The 80’s weren’t that long ago. U born yesterday?

 

[dualmeister]

Checks a quote I did in 2013.
Was R9.32 / dollar.

 

[Lupus]

The 80’s weren’t that long ago. U born yesterday?

1982 was 44 years ago, so yeah long ago

 

[A3@MBB]

Brace for next weeks article, "Rand going zero to hero"', when Trump announce the next cease fire.

 

[Wut]

The 80’s weren’t that long ago. U born yesterday?

It was never $2 for 1 Rand in the 80s. No matter how much your nostalgia glasses lie to you.

 

[dualmeister]

South African rand - Wikipedia

en.wikipedia.org

By the early 1980s, high inflation, mounting political pressure, and sanctions placed against the country due to international opposition to the apartheid system had started to erode its value. The currency broke above parity with the dollar for the first time in March 1982. It continued to trade between R1 and R1,30 to the dollar until June 1984, when the currency's depreciation gained momentum. By February 1985, the currency was trading at over R2 per dollar. In July of that year, authorities suspended all foreign exchange trading for three days in an attempt to halt the currency's depreciation.

 

[Wut]

South African rand - Wikipedia

en.wikipedia.org

By the early 1980s, high inflation, mounting political pressure, and sanctions placed against the country due to international opposition to the apartheid system had started to erode its value. The currency broke above parity with the dollar for the first time in March 1982. It continued to trade between R1 and R1,30 to the dollar until June 1984, when the currency's depreciation gained momentum. By February 1985, the currency was trading at over R2 per dollar. In July of that year, authorities suspended all foreign exchange trading for three days in an attempt to halt the currency's depreciation.

Another ANC failu... oh wait!?...

 

[DarkStarMonday]

Was it a double clutch hit ?

Only legends will understand.

 

[zerocool2009]

Rand has been taking a hit for over 30 years. this is no different.

This is sad but funny. Look how SA went in reverse over the last 3 decades.