Rand takes sharp turn for the worse

I hope the distributors took advantage and placed orders while it was going well
 
All of 1 day?
I thought it’s been going down the last year until a low point of 15.65?

And even if it was one day, we’d book our $, secure the rate & place the order.
 
I thought it’s been going down the last year until a low point of 15.65?

And even if it was one day, we’d book our $, secure the rate & place the order.
Nah it's been about a month or so for it to start dipping in the 16 range, but the magical day for 15.
 
Nah it's been about a month or so for it to start dipping in the 16 range, but the magical day for 15.
Exchange is 15% lower than a year back and even (almost) 1% lower on the day.

I did this for 15 years at various distributors and the exchange changed continually. You'd get quotes from the bank that would last x time and book as soon as you could, saving hundreds of thousands of Rand on an order. 1% was large.

Ordering at 9:00 and 16:00 on the same could yield pretty different. Missing an an order opportunity at 16:00 and then placing the following day at 9:00 was a gamble.


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Exchange
 
Exchange is 15% lower than a year back and even (almost) 1% lower on the day.

I did this for 15 years at various distributors and the exchange changed continually. You'd get quotes from the bank that would last x time and book as soon as you could, saving hundreds of thousands of Rand on an order. 1% was large.

Ordering at 9:00 and 16:00 on the same could yield pretty different. Missing an an order opportunity at 16:00 and then placing the following day at 9:00 was a gamble.


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View attachment 1883440

Exchange
Yup but there were some big drops over the year, with it going into the 16 mark early December :) so sure it's 15% better now, but over the course of the year it fluctuated.
 
In fact it supposedly gained 1% overnight? So will see
 
and it's also not the Rand, never is, the Dollar is on the move

Commodities as well. The rand has been riding a commodity wave.

Gold hit $5,500 last week and the rand moved to well below R16. Then gold had a mini collapse to $4,500 and the rand immediately responded to that, quickly losing ground against the dollar and climbing back above R16.

Gold has had a bit of recovery this week and the rand has again immediately responded and is back below R16.
 
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