The ZAR Exchange Rate Thread

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ronald911 said:
This morning I bought 5 Euro for 70zar from a car guard... Back story, he came up to me at 6:30am, while I was checking the waves at our local beach. Apparently some tourist gave it to him a few days ago, and he can't change it at the bank as needs a passport, proof of residence, etc - all hassles for him. So, I offered him R70 for it, not having been keeping up with latest exchange rates and I can't do calculations that early in the morning. He gladly traded it.

Got back home and hit up XE just to find out it's worth over R85.

Will change it to Korean Won when I get back to Korea next week. xD
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Sounds like a totally worthwhile and sustainable business opportunity. You should set up a stand to buy forex off car guards ;)
 
naeem said:
and i fondly remember my usa trip in 2012 - R8.5/$ - :)


all things considered, if we stay on 15.5ish for the next 10 days, i wonder if Pravins budget might break it into the 14s?
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I'm starting to wonder if I must withdraw my Pounds now or later. What are the chances of it going lower / higher next week Wednesday?
 
Tander said:
I'm starting to wonder if I must withdraw my Pounds now or later. What are the chances of it going lower / higher next week Wednesday?
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50/50 chance of it going either way.
 
User52 said:
This looks very possible if it keeps this rate up. The Rand has definitely strengthened a lot over the last few weeks.
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Nah it lost a little ground again. At 5 it was R15.30 now its 39
 
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User52 said:
It looks unstable, but the overall trend is downwards so I hope it continues... May just take more time.
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The trend is not downward the trend is upwards. Unless something considerable happen to stabilize the zar and change it into a downward trend.

2 or 3 days does not set a trend
 
Ja, mid-month is quiet time for selling ZAR - SA importers have paid their suppliers. At month-end and for the first 7-10 days of the new month lots of local companies pay their overseas suppliers again (including us), so sell Rand, causing a drop...
 
Thor187 said:
The trend is not downward the trend is upwards. Unless something considerable happen to stabilize the zar and change it into a downward trend.

2 or 3 days does not set a trend
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Pho3nix said:
How about a month?

View attachment 343639
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^ This. The current trend is downwards as I predicted. Until something happens to send it upwards again.

Arthur said:
Ja, mid-month is quiet time for selling ZAR - SA importers have paid their suppliers. At month-end and for the first 7-10 days of the new month lots of local companies pay their overseas suppliers again (including us), so sell Rand, causing a drop...
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Seems to have resisted that drop the last month and instead continuing to drop?
 
Thor187 said:
The trend is not downward the trend is upwards. Unless something considerable happen to stabilize the zar and change it into a downward trend.

2 or 3 days does not set a trend
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As mentioned before, please don't take financial advice from Thor.
 
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