The ZAR Exchange Rate Thread

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Zyzzyva said:
We are going to hit fairly substantial support soon. Buyers will be piling up around the R13 level, so for the downward trend to continue we will first have to get through that. There is also the previous R13.30 historic high from the early 2000's iirc. Looking at the chart i wouldn't be surprised if we bounce around R13. If thats happens, i'd look to the previous lows around R14 to be the area of resistance which hopefully sees the continuation of the current downward trend.

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That high was 13.84 ... nothing around 13.30. I actually had a trade at 84 back then.
 
Interesting times ahead for places that listed currency as a reason for above inflation increases
 
Expat saffers friends sending money back are certainly cursing loudly...

Feeling kinda ambivalent about the whole thing myself.
 
HavocXphere said:
Expat saffers friends sending money back are certainly cursing loudly...

Feeling kinda ambivalent about the whole thing myself.
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On the flip side, taking my Ronds out of SA is getting better n better. I still not sure when i should start transfering. :D
 
poffle said:
On the flip side, taking my Ronds out of SA is getting better n better. I still not sure when i should start transfering. :D
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this is essentially dollar weakness as opposed to rand strength, the dollar weakness due to the fact people think the FED will continue to look for excuses to not raise rates
 
saturnz said:
this is essentially dollar weakness as opposed to rand strength, the dollar weakness due to the fact people think the FED will continue to look for excuses to not raise rates
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I see I see, well i dont mind what-ever is causing it. the ZAR -> MUR has hit a 10 month high, long may it continue :D
 
poffle said:
I see I see, well i dont mind what-ever is causing it. the ZAR -> MUR has hit a 10 month high, long may it continue :D
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you should care if you are considering "when" to do things

sentiment can swing again if the next payroll numbers are weak or some other event occurs where people all of a sudden feel a FED hike will happen- currently people will treat bad news as good news and good news as bad news or the other way round.
 
saturnz said:
you should care if you are considering "when" to do things

sentiment can swing again if the next payroll numbers are weak or some other event occurs where people all of a sudden feel a FED hike will happen- currently people will treat bad news as good news and good news as bad news or the other way round.
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Indeed, i am taking great care in that. Thanks!
 
If i had spare cash I would be buying dollars right now. At some point the US FED has to raise rates this year. They have only two meetings left this year. Next one being Sep 20 IIRC

Not gonna be great being an exporter till then IMO
 
13.3036

Pushing strong today!

Some US oil data etc being released later today ,which could change things.
 
Yoh.

It's only 55c weaker than at the strongest point in the last 12 months(R12.75), so if it can get there sometime, I would call it a mini recovery.

But let's see how our politicians intend to screw it up first...
 
sox63 said:
If i had spare cash I would be buying dollars right now. At some point the US FED has to raise rates this year. They have only two meetings left this year. Next one being Sep 20 IIRC

Not gonna be great being an exporter till then IMO
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Only see one for September and with Elections in Nov current sentiment is they might not raise them this year pending the results and new administration.
 
Garson007 said:
Mini? Seriously? Some thought we'd be sitting at R20 now.
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Yes, mini.

A major recovery would be somewhere around R8, as it was constantly sitting at for a while before SA was Zumafied.

At least below R10.

As stated above, it's not even the lowest it's been in the last 12 months, and we were already down the gutter long before 2015. Nenegate just exacerbated the decline.

If you ask me if I prefer 13.30 vs. 20.00, obviously yes, but based on where we came from, 13.30 is still pretty depressing.

I still can't shake the feeling that it's still on a knife edge.
 
Ho3n3r said:
Yes, mini.

A major recovery would be somewhere around R8, as it was constantly sitting at for a while before SA was Zumafied.

At least below R10.

As stated above, it's not even the lowest it's been in the last 12 months, and we were already down the gutter long before 2015. Nenegate just exacerbated the decline.

If you ask me if I prefer 13.30 vs. 20.00, obviously yes, but based on where we came from, 13.30 is still pretty depressing.
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I have to agree with you bud
 
Ho3n3r said:
Yes, mini.

A major recovery would be somewhere around R8, as it was constantly sitting at for a while before SA was Zumafied.

At least below R10.

As stated above, it's not even the lowest it's been in the last 12 months, and we were already down the gutter long before 2015. Nenegate just exacerbated the decline.

If you ask me if I prefer 13.30 vs. 20.00, obviously yes, but based on where we came from, 13.30 is still pretty depressing.

I still can't shake the feeling that it's still on a knife edge.
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When Zuma started the US dollar index was only around 73 ,which now sits at 95. The US dollar index ,is the indication on how strong the US dollar is.

So we need the dollar to weaken by quite a bit before we can go back to that times.
 
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