The ZAR Exchange Rate Thread

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TysonRoux said:
I have a good few GBP in my HSBC account that I need to move to the US between now and the end of the year - should I wait for things to stabilise or transfer now?
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MPC meeting on Thursday where a 25bp rate cut is predicted and maybe already priced in. They may go full nuclear and drop to 0% though...that would result in a big drop I think.
 
lestoran said:
Its only gambling if you're not prepared. A professional card counter is not gambling when he plays as his skills have turned the odds in his favour. He won't win every hand but if he controls his risk the odds will work themselves out.

The bucketshop brokers who advertise Forex (or any trading) as "get rich quick" are very much to blame for this. You don't learn to do this in a few months any more than you learn to be any engineer that quickly.

Takes years to learn and even then its "get rich slowly".
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I thought so too until the wool was pulled from my eyes, central banks decide policy at will, raise rates, drop rates, negative rates. Talk up the market, talk down the market, print money, helicopter money, implement a peg, break a peg (ala Switzerland) etc etc etc

No thanks, dealing in forex is gambling, always, you may take what you think is a calculated risk, and then someone like the SNB lets you know who's boss and entire companies go bust.

EDIT: and to get back to the card counter metaphor, even a pro is sadly deluded, 7 decks and more on continuous auto shuffle in modern casinos, yeah count to your heart's content LOL
 
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14.26 now. Nearing 7 month highs...tempted to buy some at this level.
 
BBSA said:
No rate cut
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Yep, from Sky feed

Interest Rates On Hold

The Bank of England has kept the cost of borrowing at 0.5%, against market expectations.

Economics Editor Ed Conway says the committee voted 8-1 in favour of making no change.

Governor Mark Carney had said he stood ready to lower rates.

The pound jumped as the news broke.
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R14.21/$ now.

Still too scared to be happy about it, because I know there are forces in SA who don't mind screwing up the economy, and we can be back at R16/$ again by tomorrow if it's up to them.
 
Thor187 said:
Well. I was horribly wrong. In December 2015 I said the rand will be R12 by mid 2016.

So call me a hairless baby's left toe.
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Well I have to say that after today you may still get your prediction.

JayM said:
14.26 now. Nearing 7 month highs...tempted to buy some at this level.
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I also want what people are smoking in here.
 
R13.78/$ at last check. Strength due to incoming election results possibly? Some big administrative and governance changes in the pipeline...
 
Agent_Smith said:
R13.78/$ at last check. Strength due to incoming election results possibly? Some big administrative and governance changes in the pipeline...
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Mainly because the BOE cut its interest rates to 0.25% ,lowest it has been ever! More cheap credit going around!

13.69 to dollar now.

GBP at 18.06
 
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Gtx Gaming said:
Mainly because the BOE cut its interest rates to 0.25% ,lowest it has been ever! More cheap credit going around!

13.69 to dollar now.

GBP at 18.06
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Yep. Pity those with access to that cheap money are not willing to spend/loan it. Actually saw a story investors are turning to corporate bonds because of the crappy or negative yields of soveriegn bonds. With that even our bonds look attractive...
 
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