SoulTax
Executive Member
FM fired, get on your finances early this morning people, the Rand is about to simulate zero gravity it is going to fall so hard.
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The ZAR Exchange Rate Thread
- Thread starter Robin Hood
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reactor_sa
Executive Member
Back to R15 by Monday.
cerebus
Honorary Master
Shooo quite a morning. Went to bed it was R12.95, woke up it's R13.51
akescpt
Honorary Master
screwing my trip royally is zumba
Tinuva
The Magician
I am lucky my trip was during the honeymoon period in the last couple of weeks.
Its screws up any plans I had for some items I wanted to import...
...but then my stocks that I have in the US that is doing very well, is in dollars so they are happily not in rands.
I just feel sad about any stuff I wont be importing anymore.
Looks like the Rand is holding strong. Investors have either calculated this event in, or are willing to wait and see a bit longer. Will be interesting to see what happens in the next few hours once the local market is properly up and running.
LazyLion
King of de Jungle
Unusual trading in foreign exchange futures around Gordhan’s recall from London....
http://www.intellidex.co.za/unusual-trading-foreign-exchange-futures-gordhan-recalled-london
http://www.intellidex.co.za/unusual-trading-foreign-exchange-futures-gordhan-recalled-london
Arthur
Honorary Master
In the UK? My sympathies, akescpt.
I arrived in Texas earlier today. Brilliant timing.
Necropolis
Executive Member
- Joined
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I must say the rand isn't performing as badly as I suspected that it would be...
Cius
Honorary Master
The SARB is probably supporting the rand currently.
reactor_sa
Executive Member
Most likely early profit taking from purchased earlier in the week.
Certainly a factor. But I would've expected a bigger sell-off of the Rand from foreign investors, which should've outweighed anything else. If this is the worst of it, it's unlikely to weaken much further than what it is now. But who knows when it comes to the currency market.
Scooby_Doo
Honorary Master
Wait for the USA to wake up...
The US market was open when the news broke. Asian markets also had a chance to absorb it. What causes the biggest fall in the currency is knee-jerk reactions and foreign investors quickly selling off the Rand. That hasn't happened this time like last time. We could still see some weakening, but looks like most investors in the currency are waiting and seeing which will reduce the damage.
Scooby_Doo
Honorary Master
I literally making a bet that once the US comes online it will dive further.
Tinuva
The Magician
Fairly certain the USA was awake when the new broke last night. Then again some of them may have missed it.
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