The ZAR Exchange Rate Thread

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Jola said:
That is actually a reason to take money offshore (now).

Also it depends on whether you have a view that the ZAR will ever recover against the USD.

The short answer is : Not while the ANC rules. So take a view on that !
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Surely the markets have already absorbed this? This has been expected for a while now.
 
Jola said:
That is actually a reason to take money offshore (now).

Also it depends on whether you have a view that the ZAR will ever recover against the USD.

The short answer is : Not while the ANC rules. So take a view on that !
Click to expand...
It has in the past. This isn't the first time we're here.
 
The rand has come under severe pressure breaking through the R20 to the pound level and dropping to R12,82 to the dollar.

A number of global factors appear to be affecting the local currency, which has lost major ground over the past few weeks.

However, despite the rand dropping to lows last seen in 2001, it seems to be faring better than other emerging market currencies, including Russia and Brazil.
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http://ewn.co.za/2015/08/05/Rand-under-severe-pressure-against-Pound-and-Dollar
 
Why Some Economists Think China’s Currency Devaluation Could ‘Start Something Big'

BEIJING (TheBlaze/AP) – For the third day in a row, China’s currency continued to fall, but as its decline at least slowed, world stocks started to rebound. Still, that hasn’t necessarily quelled fears of it sparking a “currency war.”

China tried to ease fears of more big declines for the yuan as it on Thursday only fell 0.2 percent compared with drops of up to 1.9 percent on the previous days. It has dropped a total of 2.9 percent since Tuesday.

There is “no basis for persistent and substantial devaluation,” said a deputy central bank governor, Zhang Xiaohui, at a news conference. Zhang said the yuan is close to “market levels” after two days of sharp declines....
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Full article here...
http://www.theblaze.com/stories/201...be-the-start-of-something-big-something-ugly/
 
Maybe I am searching with the wrong wording on Google but I am trying to track down exactly what the worst GBP to ZAR exchange rate has ever been. I tried XE but that only goes back 10 years, can anyone enlighten me?
 
remybfg10k said:
Maybe I am searching with the wrong wording on Google but I am trying to track down exactly what the worst GBP to ZAR exchange rate has ever been. I tried XE but that only goes back 10 years, can anyone enlighten me?
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It's currently at its worst, you don't need to go back more than 6 months.
 
Spizz said:
I thought it had been 21 something previously?
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When was that? I've been using my GBP card in SA since around 1997 and I can't remember it ever being at a better rate year on year, iirc it was around R6-£1 back then and has just progressively climbed each year since then.
 
Dave123 said:
When was that? I've been using my GBP card in SA since around 1997 and I can't remember it ever being at a better rate year on year, iirc it was around R6-£1 back then and has just progressively climbed each year since then.
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Maybe I'm mistaken. I thought it had been around 21 about 1998/99.

And I'm off there next month for 3 weeks
 
Spizz said:
Maybe I'm mistaken. I thought it had been around 21 about 1998/99.
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I had a quick look and found ZAR-US$ stats published 2014:

HISTORICAL EXCHANGE RATE SUMMARY: ZAR/US

Average (Last 12 Months) 10.50
Average (Last 10 Years) 7.85
High (Last 12 Months) 10.95 (February, 2014)
Low (Last 12 Months) 9.90 (October, 2013)

High (Since January, 1971) 11.68 (December, 2001)
Low (Since January, 1971) 0.67 (July, 1974)
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http://www.forecast-chart.com/usd-african-rand.html

Current US$ is around R12.83

And I'm off there next month for 3 weeks
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Looks like it's going to break 20 to the £ anytime now, should be a cheap holiday other than the flights ;) (some are already quoting above £20)

Thursday 13/08/2015 1 GBP = 20.00422 ZAR GBP ZAR rate 13/08/2015
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remybfg10k said:
Maybe I am searching with the wrong wording on Google but I am trying to track down exactly what the worst GBP to ZAR exchange rate has ever been. I tried XE but that only goes back 10 years, can anyone enlighten me?
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It's the worst it's been in 14 years. Can't give you any more than that.
 
Swa said:
It's the worst it's been in 14 years. Can't give you any more than that.
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Worst since 1971 according to my link above, in fact, hard to imagine, but it was 67 SA cents to the US$ in 1974 :wtf:.


Garyvdh said:
You're probably thinking of the Pound, it's almost there again!
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20 years of GBP to ZAR from bwana's Reserve Bank link.

View attachment 249034
 
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