hj2k_x
Honorary Master
Which should make the dollar strengthen, which won't help the rand will it?
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The ZAR Exchange Rate Thread
- Thread starter Robin Hood
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Which should make the dollar strengthen, which won't help the rand will it?
It will help i think.
They seem to want to stop the decline.
They are not really trying to improve the value.
Just steadying it a bit.
It must be the federal reserve US.
Rand shows slight weakness.8.07922
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MacNabs
Senior Member
Um.... does not take a rocket scientist to realise that one.
Corrupt Jacob Zuma the next president is now a reality....
Eskom....
too many things to list
MacNabs
Senior Member
And I have never seen the rand so low against the NZ Dollar before, looks like at the rate things are going we going to be able to afford a very nice holiday in CT in December.
1.00 NZD = 5.73835 ZAR
The above comment was just over a month ago, today we are looking at 1.00 NZD = 6.42658 ZAR
And there are still people on this forum thinking it wont get worse and that SA is getting better...
koffiejunkie
Executive Member
Here's a complete history, with figures relative to the pound. Notice how little the Euro/Pound/Dollar fluctuate in relation to each other. Yes, the dollar has dropped 2p against the pound in the last day, but that's well within it's usual fluctuation range. The Rand, however, is taking one hell of a dive.
Code:
+------------+------+---------+---------+---------+----------+-----------+----------+
| Date | GBP | USD/GBP | EUR/GBP | ZAR/GBP | ZAR/USD | ZAR/EUR | USD/EUR |
+------------+------+---------+---------+---------+----------+-----------+----------+
| 2008-01-01 | 1.00 | 1.97 | 1.36 | 13.48 | 6.842639 | 9.911764 | 1.448529 |
| 2008-01-02 | 1.00 | 1.98 | 1.35 | 13.52 | 6.828283 | 10.014815 | 1.466667 |
| 2008-01-03 | 1.00 | 1.97 | 1.34 | 13.54 | 6.873096 | 10.104477 | 1.470149 |
| 2008-01-04 | 1.00 | 1.98 | 1.34 | 13.57 | 6.853535 | 10.126865 | 1.477612 |
| 2008-01-05 | 1.00 | 1.97 | 1.34 | 13.56 | 6.883249 | 10.119403 | 1.470149 |
| 2008-01-06 | 1.00 | 1.98 | 1.34 | 13.57 | 6.853535 | 10.126865 | 1.477612 |
| 2008-01-07 | 1.00 | 1.97 | 1.34 | 13.64 | 6.923858 | 10.179104 | 1.470149 |
| 2008-01-08 | 1.00 | 1.97 | 1.34 | 13.57 | 6.888325 | 10.126865 | 1.470149 |
| 2008-01-09 | 1.00 | 1.96 | 1.34 | 13.45 | 6.862245 | 10.037313 | 1.462687 |
| 2008-01-10 | 1.00 | 1.96 | 1.33 | 13.42 | 6.846939 | 10.090225 | 1.473684 |
| 2008-01-11 | 1.00 | 1.96 | 1.33 | 13.23 | 6.750000 | 9.947368 | 1.473684 |
| 2008-01-12 | 1.00 | 1.96 | 1.33 | 13.23 | 6.750000 | 9.947368 | 1.473684 |
| 2008-01-13 | 1.00 | 1.96 | 1.33 | 13.23 | 6.750000 | 9.947368 | 1.473684 |
| 2008-01-14 | 1.00 | 1.96 | 1.32 | 13.20 | 6.734694 | 9.999999 | 1.484848 |
| 2008-01-15 | 1.00 | 1.97 | 1.33 | 13.41 | 6.807106 | 10.082706 | 1.481203 |
| 2008-01-16 | 1.00 | 1.96 | 1.34 | 13.62 | 6.948979 | 10.164179 | 1.462687 |
| 2008-01-17 | 1.00 | 1.97 | 1.34 | 13.89 | 7.050761 | 10.365672 | 1.470149 |
| 2008-01-18 | 1.00 | 1.95 | 1.34 | 13.82 | 7.087179 | 10.313432 | 1.455224 |
| 2008-01-19 | 1.00 | 1.96 | 1.34 | 13.84 | 7.061224 | 10.328358 | 1.462687 |
| 2008-01-20 | 1.00 | 1.96 | 1.34 | 13.84 | 7.061224 | 10.328358 | 1.462687 |
| 2008-01-21 | 1.00 | 1.95 | 1.35 | 14.03 | 7.194871 | 10.392592 | 1.444444 |
| 2008-01-22 | 1.00 | 1.96 | 1.34 | 13.93 | 7.107143 | 10.395522 | 1.462687 |
| 2008-01-23 | 1.00 | 1.95 | 1.34 | 13.88 | 7.117949 | 10.358209 | 1.455224 |
| 2008-01-24 | 1.00 | 1.97 | 1.34 | 13.81 | 7.010152 | 10.305970 | 1.470149 |
| 2008-01-25 | 1.00 | 1.98 | 1.35 | 14.17 | 7.156566 | 10.496296 | 1.466667 |
| 2008-01-26 | 1.00 | 1.98 | 1.35 | 14.16 | 7.151515 | 10.488889 | 1.466667 |
| 2008-01-27 | 1.00 | 1.98 | 1.35 | 14.17 | 7.156566 | 10.496296 | 1.466667 |
| 2008-01-28 | 1.00 | 1.98 | 1.35 | 14.18 | 7.161616 | 10.503704 | 1.466667 |
| 2008-01-29 | 1.00 | 1.99 | 1.35 | 14.29 | 7.180904 | 10.585185 | 1.474074 |
| 2008-01-30 | 1.00 | 1.99 | 1.34 | 14.44 | 7.256281 | 10.776119 | 1.485075 |
| 2008-01-31 | 1.00 | 1.99 | 1.34 | 14.81 | 7.442211 | 11.052239 | 1.485075 |
| 2008-02-01 | 1.00 | 1.96 | 1.32 | 14.59 | 7.443877 | 11.053030 | 1.484848 |
| 2008-02-02 | 1.00 | 1.97 | 1.33 | 14.59 | 7.406091 | 10.969925 | 1.481203 |
| 2008-02-03 | 1.00 | 1.97 | 1.33 | 14.43 | 7.324873 | 10.849624 | 1.481203 |
| 2008-02-04 | 1.00 | 1.97 | 1.33 | 14.74 | 7.482233 | 11.082706 | 1.481203 |
| 2008-02-05 | 1.00 | 1.96 | 1.34 | 15.04 | 7.673469 | 11.223880 | 1.462687 |
| 2008-02-06 | 1.00 | 1.96 | 1.34 | 15.07 | 7.688775 | 11.246268 | 1.462687 |
| 2008-02-07 | 1.00 | 1.94 | 1.34 | 14.98 | 7.721649 | 11.179104 | 1.447761 |
| 2008-02-08 | 1.00 | 1.94 | 1.34 | 15.17 | 7.819587 | 11.320895 | 1.447761 |
| 2008-02-09 | 1.00 | 1.95 | 1.34 | 15.19 | 7.789743 | 11.335820 | 1.455224 |
| 2008-02-10 | 1.00 | 1.95 | 1.34 | 15.18 | 7.784615 | 11.328358 | 1.455224 |
| 2008-02-11 | 1.00 | 1.94 | 1.34 | 15.17 | 7.819587 | 11.320895 | 1.447761 |
| 2008-02-12 | 1.00 | 1.96 | 1.35 | 15.15 | 7.729591 | 11.222222 | 1.451852 |
| 2008-02-13 | 1.00 | 1.97 | 1.35 | 15.17 | 7.700508 | 11.237037 | 1.459259 |
| 2008-02-14 | 1.00 | 1.97 | 1.35 | 15.14 | 7.685279 | 11.214815 | 1.459259 |
| 2008-02-15 | 1.00 | 1.96 | 1.34 | 15.05 | 7.678571 | 11.231343 | 1.462687 |
| 2008-02-16 | 1.00 | 1.96 | 1.34 | 15.04 | 7.673469 | 11.223880 | 1.462687 |
| 2008-02-17 | 1.00 | 1.96 | 1.33 | 15.00 | 7.653061 | 11.278195 | 1.473684 |
| 2008-02-18 | 1.00 | 1.95 | 1.33 | 14.88 | 7.630769 | 11.187970 | 1.466165 |
| 2008-02-19 | 1.00 | 1.95 | 1.32 | 14.98 | 7.682051 | 11.348484 | 1.477273 |
| 2008-02-20 | 1.00 | 1.94 | 1.32 | 15.16 | 7.814433 | 11.484848 | 1.469697 |
| 2008-02-21 | 1.00 | 1.96 | 1.32 | 15.32 | 7.816326 | 11.606060 | 1.484848 |
| 2008-02-22 | 1.00 | 1.97 | 1.33 | 15.28 | 7.756345 | 11.488721 | 1.481203 |
| 2008-02-23 | 1.00 | 1.97 | 1.33 | 15.22 | 7.725888 | 11.443609 | 1.481203 |
| 2008-02-24 | 1.00 | 1.97 | 1.33 | 15.25 | 7.741117 | 11.466165 | 1.481203 |
| 2008-02-25 | 1.00 | 1.97 | 1.33 | 15.15 | 7.690355 | 11.390977 | 1.481203 |
| 2008-02-26 | 1.00 | 1.99 | 1.33 | 14.99 | 7.532663 | 11.270676 | 1.496241 |
| 2008-02-27 | 1.00 | 1.98 | 1.32 | 14.83 | 7.489899 | 11.234848 | 1.500000 |
| 2008-02-28 | 1.00 | 1.99 | 1.31 | 14.83 | 7.452261 | 11.320611 | 1.519084 |
| 2008-02-29 | 1.00 | 1.99 | 1.31 | 15.56 | 7.819096 | 11.877863 | 1.519084 |
| 2008-02-29 | 1.00 | 1.99 | 1.31 | 15.56 | 7.819096 | 11.877863 | 1.519084 |
| 2008-03-01 | 1.00 | 1.99 | 1.31 | 15.58 | 7.829146 | 11.893130 | 1.519084 |
| 2008-03-02 | 1.00 | 1.99 | 1.31 | 15.59 | 7.834171 | 11.900764 | 1.519084 |
| 2008-03-03 | 1.00 | 1.99 | 1.31 | 15.44 | 7.758794 | 11.786260 | 1.519084 |
| 2008-03-04 | 1.00 | 1.99 | 1.31 | 15.70 | 7.889447 | 11.984733 | 1.519084 |
| 2008-03-05 | 1.00 | 1.99 | 1.30 | 15.55 | 7.814070 | 11.961539 | 1.530769 |
| 2008-03-06 | 1.00 | 2.00 | 1.31 | 16.18 | 8.090000 | 12.351146 | 1.526718 |
+------------+------+---------+---------+---------+----------+-----------+----------+MacNabs
Senior Member
A rand was worth more than a U.S. dollar from the time of its inception in 1961 until 1982, when mounting political pressure combined with sanctions placed against the country because of apartheid started to erode its value. The currency broke above parity with the dollar for the first time in March 1982, and continued to trade between R1–R1.30 to the dollar until June 1984, when depreciation of the currency gained momentum. By February of 1985, it was trading at over R2 per dollar, and in July that year all foreign exchange trading was suspended for 3 days to try and stop the devaluation.
By the time that State President PW Botha made his infamous Rubicon speech on 15 August 1985, it had weakened to R2.40 per dollar. The currency recovered somewhat between 1986–88, trading near the R2 level most of the time and even breaking beneath it sporadically. The recovery was short-lived however, and by the end of 1989 the rand was trading at levels of more than R2.50 per dollar.
As it became clear in the early 1990s that the country was destined for black majority rule and one reform after the other was announced, uncertainty about the future of the country hastened the depreciation until the level of R3 to the dollar was breached in November 1992. A host of local and international events influenced the currency after that, most notably the 1994 democratic election which saw it weaken to over R3.60 to the dollar, the election of Tito Mboweni as the new governor of the South African Reserve Bank, and the inauguration of President Thabo Mbeki in 1999 which saw it quickly slide to over R6 to the dollar. The controversial land reform program that was kicked off in Zimbabwe, followed by the September 11, 2001 attacks, propelled it to its weakest historical level of R13.84 to the dollar in December 2001.
This sudden depreciation in 2001 led to a formal investigation, which in turn led to a dramatic recovery. By the end of 2002, the currency was trading at under R9 to the dollar again, and by the end of 2004 was trading at under R5.70 to the dollar. The currency softened somewhat in 2005, and was trading at around R6.35 to the dollar at the end of the year. At the start of 2006 however, the currency resumed its rally, and as of 19 January 2006 was trading at under R6 to the dollar once again. During 2006 and early 2007, the rand gained slightly and now was around R7 to the dollar. Coincidentally, it is almost exactly 1/10 of a euro. The R200 note is hardly used.
In January 2008, the rand once again started a downward slide thought to be caused by a foreign lack of confidence in South Africa due to the Eskom electricity crisis which resulted in the utility not having enough power for the country's growing demands. In particular, major mines were shut down and Eskom warned that major new industrial projects could not be powered for at least 5 years. In addition the election of Jacob Zuma to the presidency of the ANC and the strong possibility that he will become the next President has led to a lack of confidence in the country's prospects. The rand was trading around R7.60 to the dollar and was the worlds worst performing currency in January 2008 by having devalued almost R0.50 in 4 days.
And some food for thought:
In 1997, 1$US = 10$ZIM, Today 1$US = 25,000,000$ZIM
By the time that State President PW Botha made his infamous Rubicon speech on 15 August 1985, it had weakened to R2.40 per dollar. The currency recovered somewhat between 1986–88, trading near the R2 level most of the time and even breaking beneath it sporadically. The recovery was short-lived however, and by the end of 1989 the rand was trading at levels of more than R2.50 per dollar.
As it became clear in the early 1990s that the country was destined for black majority rule and one reform after the other was announced, uncertainty about the future of the country hastened the depreciation until the level of R3 to the dollar was breached in November 1992. A host of local and international events influenced the currency after that, most notably the 1994 democratic election which saw it weaken to over R3.60 to the dollar, the election of Tito Mboweni as the new governor of the South African Reserve Bank, and the inauguration of President Thabo Mbeki in 1999 which saw it quickly slide to over R6 to the dollar. The controversial land reform program that was kicked off in Zimbabwe, followed by the September 11, 2001 attacks, propelled it to its weakest historical level of R13.84 to the dollar in December 2001.
This sudden depreciation in 2001 led to a formal investigation, which in turn led to a dramatic recovery. By the end of 2002, the currency was trading at under R9 to the dollar again, and by the end of 2004 was trading at under R5.70 to the dollar. The currency softened somewhat in 2005, and was trading at around R6.35 to the dollar at the end of the year. At the start of 2006 however, the currency resumed its rally, and as of 19 January 2006 was trading at under R6 to the dollar once again. During 2006 and early 2007, the rand gained slightly and now was around R7 to the dollar. Coincidentally, it is almost exactly 1/10 of a euro. The R200 note is hardly used.
In January 2008, the rand once again started a downward slide thought to be caused by a foreign lack of confidence in South Africa due to the Eskom electricity crisis which resulted in the utility not having enough power for the country's growing demands. In particular, major mines were shut down and Eskom warned that major new industrial projects could not be powered for at least 5 years. In addition the election of Jacob Zuma to the presidency of the ANC and the strong possibility that he will become the next President has led to a lack of confidence in the country's prospects. The rand was trading around R7.60 to the dollar and was the worlds worst performing currency in January 2008 by having devalued almost R0.50 in 4 days.
And some food for thought:
In 1997, 1$US = 10$ZIM, Today 1$US = 25,000,000$ZIM
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Lord Anubis
Expert Member
well what do we expect... when eishkom say don't invest in SA, when politicians say that sleep makes you cleverererr, when president to be says a shower cure's aids , when idiot minister says that the solution to crime is that whigners leave, when infrastructure all around us is collapsing, when we have the overall worst schooling system in the world, when universities are torched trashed and businesses destroyed by loadshedding, agressive nonsensical EE, WHEN FOOD PRICES ARE SKYROCKETING, fuel prices out of control, interest rates killing us, capped broadban, when shacks are a tourist attraction, humiliating old black ouma's are a pass time...this place is sick man....
yep ZIM2.0 is here and soon JayCrab ZIMO and his ZIMO Muaritian style penny dolla will be in and yay we can have fun and genocide whitey and kill honest hard working blacks yay viva new Rainbow ZIM2.0 drenched in blood and poverty and unemployment and hunger..yay
this place makes me want to puke..I'm going back to bed and when I wake I'll go to work and suck it up for one more day..if I survive this hellhole called JHB
yep ZIM2.0 is here and soon JayCrab ZIMO and his ZIMO Muaritian style penny dolla will be in and yay we can have fun and genocide whitey and kill honest hard working blacks yay viva new Rainbow ZIM2.0 drenched in blood and poverty and unemployment and hunger..yay
this place makes me want to puke..I'm going back to bed and when I wake I'll go to work and suck it up for one more day..if I survive this hellhole called JHB
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Moederloos
Honorary Master
When the people living in the country - those with education and skills - have no faith in the country, what can be expected?
This country is doomed, what we are seeing now is just the start.
This country is doomed, what we are seeing now is just the start.
eltherza
Expert Member
2010 might see the rand strengthen as investors want that quick fix of cash flow for the world cup... but after that expect the worst.
Moederloos
Honorary Master
Strengthen from what, though?
Let us say it strengthens from R20:$ to R17:$ for a few weeks - hardly going to help us.
I guess I'll have to cite the source for you then . .
http://en.wikipedia.org/wiki/South_African_rand#Brief_exchange_rate_history
eltherza
Expert Member
It was bad last night.
At one stage the value of both the Rand and Dollar was falling each time the site refreshed itself.
You could see it fall from minute to minute.
Fortunately it seemed to stop.
I wonder what today holds for us?
Rand took a beating.
I suppose we can export now.
Import a no-no.
At one stage the value of both the Rand and Dollar was falling each time the site refreshed itself.
You could see it fall from minute to minute.
Fortunately it seemed to stop.
I wonder what today holds for us?
Rand took a beating.
I suppose we can export now.
Import a no-no.
Moederloos
Honorary Master
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