The rand could fall to R19/$

Rand almost R16.20 to the dollar

So just after the budget speech we were doing fairly well and about R15.20-R15.50 to the Dollar. Even last night we were only about R15.70 to the Dollar. Get up this morning and it's R16.18. What the hell happened?
 
It appears all the SARS carp together with the dollar getting stronger is to blame.
 
zolly said:
So just after the budget speech we were doing fairly well and about R15.20-R15.50 to the Dollar. Even last night we were only about R15.70 to the Dollar. Get up this morning and it's R16.18. What the hell happened?
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We where at 15 before the speech
 
Mike Hoxbig said:
The speech was part of it. Brazil getting downgraded to junk by Moodys is another factor...
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Worst case scenario let's say we do get downgraded to junk. What does that mean in reality. How does it affect you and me?
 
Thor187 said:
Worst case scenario let's say we do get downgraded to junk. What does that mean in reality. How does it affect you and me?
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http://www.fin24.com/Budget/what-will-happen-if-sa-is-downgraded-to-junk-20160223
"Our economy is stalling and the risk of a recession is greater than ever. The rand’s steep decline of 2015 will significantly increase the cost of living for everyone - specifically fuel, transport and food - while the combination of muted global growth, low business level confidence, drought and persistently low resource prices will result in bankruptcies and higher unemployment levels," warned Kooyman.
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Overall rand drops, we pay more, government has harder time borrowing money therefore service falls and we enter a recession. (expect major job cuts which will lead to a lot of protests/riots)
 
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