The ZAR Exchange Rate Thread

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loc said:
Does anyone think the rand will recover somewhat in the next month? I need to transfer all my money to Pounds, not sure if I should bite the bullet and do it now or hope it comes back down next month
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Same problem here. The GBP is absolutely rampant at the moment. I'm going to do half now and half in a couple of months.
 
sox63 said:
Days like today I'm glad I didn't jump into the home forex trading craze sometime back. All the news should point to a weaker Rand but there seems to be a rally. With the FED rate increase this year and Greece, I dont see any news coming through showing the flow of cash here.
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What do you mean? If you sold USDZAR last week you'd have had a almost 10k dollars now
 
JayM said:
Same problem here. The GBP is absolutely rampant at the moment. I'm going to do half now and half in a couple of months.
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The GBP is under pressure relative to other currencies due to problems with the UK's largest trading partners in the EU (Greece etc) and because of the upcoming EU referendum. There is also concern about rising wages and productivity not keeping pace with increasing wages.

I think what you are seeing is not so much a rampant GBP, but rather a weakening Rand. If the Greece situation resolves itself and the EU economy picks up, then that is when the GBP will get stronger.
 
The Greece thing will resolve itself, they have no other option and will settle before the 30th..... Media and politicians making a bigger sensation out of the entire affair....

Early next month, the ZAR will continue it's downward march......

/So thinks the Moose.....
 
Mortymoose said:
The Greece thing will resolve itself, they have no other option and will settle before the 30th..... Media and politicians making a bigger sensation out of the entire affair....

Early next month, the ZAR will continue it's downward march......

/So thinks the Moose.....
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By settle you mean they will not default? Greece is a bigger risk and the risk of default is going to continue, in fact it will take a political change for Greece to default. Many people think they must just default and pull out of the EU and work to get themselves back in the black because the current austerity diet they're on causes more harm than good.

The rand is just like all other emerging market currencies. Yes there are local factors but most of its direction is determined by the world's macros.
 
zippy said:
The GBP is under pressure relative to other currencies due to problems with the UK's largest trading partners in the EU (Greece etc) and because of the upcoming EU referendum. There is also concern about rising wages and productivity not keeping pace with increasing wages.

I think what you are seeing is not so much a rampant GBP, but rather a weakening Rand. If the Greece situation resolves itself and the EU economy picks up, then that is when the GBP will get stronger.
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GBP is up against all major currencies over the past few weeks. On 2015/06/01 it was GBP=$1.52. Now it's almost $1.60. Similar story against AUD/CAD/JPY.

Agree though, the ZAR is extra crap.
 
R13... said:
By settle you mean they will not default? Greece is a bigger risk and the risk of default is going to continue, in fact it will take a political change for Greece to default. Many people think they must just default and pull out of the EU and work to get themselves back in the black because the current austerity diet they're on causes more harm than good.
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Ag ffs, greece has the relative economy of zim if you compare europe with southern afrique. Tiss , all bs. We just got to make money and some ******* dont want to do the work to front up a plausible story to follow the money.
What is of mild concern is the next interest rate decision of the fed, it is gonna be a freak show.
 
chicken247 said:
Ag ffs, greece has the relative economy of zim if you compare europe with southern afrique. Tiss , all bs. We just got to make money and some ******* dont want to do the work to front up a plausible story to follow the money.
What is of mild concern is the next interest rate decision of the fed, it is gonna be a freak show.
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The relative economy is meaningless here. The size of the debt is: >300 billion euros. It's a big problem.
 
Does anybody know the reason financial advisors are saying "now is not the time" to move money offshore?
 
I think the local mining houses based out of London, have in some way or other caused the fall in the rand, as they sell their raw product mined in Africa at $ value, so as the commodity prices keep falling they "manipulate" the currency to keep their ZAR based operations operable.....

once the commodity prices start to climb again, which they will, the rand is meant to bounce back...... but for some reason or other, never retreats all the way back to where is started it's decline......

/Moose knows boggerall about currencies , but likes a good theory.... :whistle:
 
maumau said:
Does anybody know the reason financial advisors are saying "now is not the time" to move money offshore?
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maybe less fees for them ;)

also heard this, but with the current world events, this does not make sense.
They know the US is about to raise rates, which is bound to increase the dollar and drop the rand, so if anything, they should be saying you should go offshore now
 
ScottulusMaximus said:
Probably because the exchange rate is ****ing awful?
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.... and nobody foresees it improving :-(


lucifir said:
maybe less fees for them ;)

also heard this, but with the current world events, this does not make sense.
They know the US is about to raise rates, which is bound to increase the dollar and drop the rand, so if anything, they should be saying you should go offshore now
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that's what I would have thought.
 
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