The ZAR Exchange Rate Thread

[biometrics]

US data came out which indicates that they may have to hold off doing an interest rate hike in the US. So not the credit rating. USD just being traded.

Ah ok. Don't really follow these things.

 

[Noseworthy]

6pm today

 

[naeem]

touched 15.23/$ and now at 15.28 - as mentioned above, based on USA data, not ratings...

my prediction is - no junk....not yet or to be revisited in 6 months time... However a rating of 'negative' or something similar... And the sheeple will happily celebrate dodging the junk bullet....

Its like a battered housewife being grateful for a blue eye and not a broken arm.

 

[Arthur]

So, S&P keep the rating. No junk for now.

 

[snoopdoggydog]

S&P: South Africa Ratings Affirmed; Outlook Remains Negative On Weak Growth

USDZAR 15.13

 

[R13...]

I suppose everyone has known for at least the past few days that they won't downgrade

 

[Swa]

I suppose everyone has known for at least the past few days that they won't downgrade

Yup, suddenly everybody who fear mongered has known all along. Two down one to go.

 

[Hamster]

I suppose everyone has known for at least the past few days that they won't downgrade

Chief analyst at Standard Bank was fearing the worst this morning

 

[R13...]

Yup, suddenly everybody who fear mongered has known all along. Two down one to go.

I guess you can't be sure until an official announcement is made. Some of the economists were likely speculating and had bets down to benefit from a downgrade

 

[snoopdoggydog]

ZAR down 3% against $

 

[Cage Rattler]

ZAR down 3% against $

Actually it is up over 3%...

 

[krycor]

Yah looks to be strengthening but not really due to anything local other than rating but more that the us data coming out was not so good so interest rate hike less likely.. So money flowed back into SA for now. I loved how they, S&P, pointed out SA politics issues and take over of treasury will see us getting junk status (besides GDP targets).

Kinda says a lot, gonna be a fun election with treasury trying to keep tight control, AG already saying municipal accounts not good. Guess we will now see if Zuma can survive or get ousted when elections product their worst results as expected esp if they lose a key municipality

 

[Gtx Gaming]

14.9621 looking good today

 

[snoopdoggydog]

Actually it is up over 3%...

Does the Rand look like it's going Up or Down?

 

[Ho3n3r]

Does the Rand look like it's going Up or Down?

Down = worse.
Up = better.

 

[R13...]

Down = worse.
Up = better.

Maybe people should rather use strength/weakness as up/down confuses some

 

[drnaphtali]

I'm no techie, but that chart is USD/ZAR. The ZAR/USD graph will move up.

 

[Ho3n3r]

Maybe people should rather use strength/weakness as up/down confuses some

Agreed.

 

[The_Traveller]

Guys, if you had a nice lump sum to convert to USD , would you do it now at a rate of R15 OR would you wait till the next rating ?

 

[The_Ogre]

I would hedge it now, then you're covered either way.