Got burnt R550 there already so won't be making that mistake again.
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The ZAR Exchange Rate Thread
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Xtm
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don't think so...! it will ever do less than R15
biometrics
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Pravin Gordhan has not even had his speech yet and it is already so much better. I think it is possible that by the end of this week we will have sub R15/$. That's my opinion so don't mark my words. I'm simply watching the rate graphs and their trend. It is unstable however it has also strengthened a lot over the last 2 months from what happened in December.
To me that looks very possible. I have been watching the xe graphs and that looks possible and I really hope it recovers and gains more ground after the speech on Wednesday.
I'll take that action, what you betting
This is a overdue correction, but lots more needs to be done to get to those levels I think.
biometrics
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I'll take that action, what you betting
This is a overdue correction, but lots more needs to be done to get to those levels I think.
I still remember R6:$ ten years ago ...
So do I, my camera kit I bought back then at around R6.50/usd from the US is worth more now than I paid back then, especially the lenses.
I just don't see us getting anywhere close in the next 10 years.
Around R10/USD would make a lot of people happy, exporters and importers as a median.
When the Rand was so strong we suffered on commodity pricing and lots of talk on where it should be pegged.
Personally, 8 is my 'happy' number, exporters need to up their game. Local industry that imports raw materials desperately need relief.
On all counts though, more stability is paramount. Just cant have these mad swings and expect to survive.
Strewth over Nov/Dec 15 it just went pear shaped and nobody is around to amend contract pricing. January was a month of tough talk with customers, almost a take it or leave it approach, actually it was just that.
Some of the stuff we covered was clearing at over R18/euro based on R15/euro bases and less.
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Lots of factors at play.. I reckon +/- 70% external where no one does something stupid. I reckon if the speech on Wednesday is more of the same with extra measures to stay within target plus lesser of a deficit then we likely will see it move towards the R13.50 point which is more or less where I reckon it should be.
Next you have to factor in growth of other countries and ironically the most important one is Iran which is why Zuma is heading there. If there is some big urban development deals struck the rand will strengthen to maybe R10-12 next yr as we basically need to find a new buyer for commodities and I reckon China is out for while. Ironic because every western country is lined up ready to go into Iran as there is a lot of easy deals to be struck unlike current environ elsewhere.
Yay, it's been a rough couple of months.
It definitely has, at the beginning of December it was around R14.50/$ and I really do hope it gets there at least very soon. With the Pravin Gordhan budget speech tomorrow I am hoping that it returns confidence and faith in our nation as we have had a tough ride with some very silly mistakes by our current president.
NarrowBandFtw
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Beginning of 2015 it was around R11.70/US$ long way to go still just to undo the damage of one year ...
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