The ZAR Exchange Rate Thread

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Swa said:
If I knew then what I know now I would have transferred all my money to Paypal in 2011. Way better interest rate than what any bank would have given me.
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They also have this nasty habit of freezing accounts with significant chunks of money in them for months at a time on some pretext. Wouldn't hold more than lunchmoney in there...
 
HavocXphere said:
They also have this nasty habit of freezing accounts with significant chunks of money in them for months at a time on some pretext. Wouldn't hold more than lunchmoney in there...
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Those are accounts used for selling. And from all the large sellers using them I think that's been overblown a bit. Not like our local banks are innocent of this behaviour.
 
And here's today's commercial bank rate (FNB) for amounts up to R50K. Note the spread between Sell and Buy Rate. To convert Rand into USD you use the Sell Rate (ie sell Rand to buy USD). To convert a dollar into Rand, use the Buy Rate.


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genetic said:
So Zuma is responsible for the weakening of most emerging markets since 2011?
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aka the Fragile Five countries.

Still think Zuma deserves some of the blame - the constant stream of fk-ups can't be good for the countries imagine.
 
FlashSA said:
+ Major inequality between rich, middle and poor
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Indeed....but that is not a factor that investors will take into account I would say. Bad governance, corruption and just overall instability will make you look very risky in the eyes of investors looking to do something with their foreign capital.
 
Ockie said:
Indeed....but that is not a factor that investors will take into account I would say. Bad governance, corruption and just overall instability will make you look very risky in the eyes of investors looking to do something with their foreign capital.
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You are right - it is the instability and striking as well as mob damage (burn, break, kill, xeno) resulting from poverty and the income gap that scares the cr@p out of investors.

No F-ing way I would put money into SA at the moment. Add power shortages and you have a clusterf$%k situation here
 
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