The ZAR Exchange Rate Thread

MirageF1

Expert Member
Joined
Jun 29, 2018
Messages
2,682
As I expected £ taken big hit last 2 days...R/£ currently at 18.67, down from 19.21 at it's peak recently with the Eskom LS fiasco.... this is due to the continued uncertainty with the Brexit withdrawal now almost certainly not going to happen on 29th March....

I'm hoping the £ crashes to 16 or less so I can send some much needed monies over to UK.
 

Swa

Honorary Master
Joined
May 4, 2012
Messages
20,756
There is no uncertainty. It was always going to be a pipe dream that won't happen after a second referendum. You can see all the moves designed to force that.
 

MirageF1

Expert Member
Joined
Jun 29, 2018
Messages
2,682
There is no uncertainty. It was always going to be a pipe dream that won't happen after a second referendum. You can see all the moves designed to force that.
There ain't going to be no second anything.

Brexit is going ahead. Whoever doesn't like it, can suck eggs. It's called the People have Spoken. Democracy is a tough system sometimes for those on the receiving end...
 

JayM

Expert Member
Joined
Oct 30, 2005
Messages
2,007
There ain't going to be no second anything.

Brexit is going ahead. Whoever doesn't like it, can suck eggs. It's called the People have Spoken. Democracy is a tough system sometimes for those on the receiving end...
From the looks of things, no one, including brexiteers, likes what's actually going to be delivered. People get the leaders they deserve.
 

Swa

Honorary Master
Joined
May 4, 2012
Messages
20,756
There ain't going to be no second anything.

Brexit is going ahead. Whoever doesn't like it, can suck eggs. It's called the People have Spoken. Democracy is a tough system sometimes for those on the receiving end...
Nobody is happy with it and the no votes were always going to be there to stop the process. The people are speaking for a second referendum where even those that voted leave will change their votes realising the mess it would cause. Democracy is more than just making a mark on a piece of paper.

Actually the whole sham was engineered to get rid of May.
 

rietrot

Honorary Master
Joined
Aug 26, 2016
Messages
14,066
Crazy volatile. In the past we needed a Zuma moment for this kind of volatility, what happened now to create the massive sell off?
 

BBSA

Honorary Master
Joined
Jul 11, 2005
Messages
11,897
Crazy volatile. In the past we needed a Zuma moment for this kind of volatility, what happened now to create the massive sell off?
I think it is related to the emergency Eskom bailout uncovered over the Easter weekend.
 

MirageF1

Expert Member
Joined
Jun 29, 2018
Messages
2,682
14.52. last week Friday was 13.97. Thats a 4% drop in less than 5 days
Don't mention it!
Just about to purchase my flight and travel to UK for a short trip in a few days... and here I was hoping it would have hit sub 18 to £ at least with all the Brexshit drama....!


Sh*t happens.
 

BBSA

Honorary Master
Joined
Jul 11, 2005
Messages
11,897
Unlikely. Analysis is attributing it to global economic issues with recent bad news out of Europe.
Propably a combination :

The rand was caught off guard this weekend, slipping back to levels as weak as R14.20/$, as National Treasury announced a bailout of Eskom on Friday this is according to Bianca Botes the Corporate Treasury Manager at Peregrine Treasury Solutions.

The rand is likely to continue its leg lower today as the Eskom bailout continues to filter through the currency market. At the same time, emerging markets are again feeling the pinch of safe haven purchases as the US/Iran oil debacle strains sentiment.

https://www.iol.co.za/business-report/economy/watch-rand-weakens-after-eskom-bailout-announcement-21776833
 

genetic

Honorary Master
Joined
Apr 26, 2008
Messages
28,368
Yep, because of the cabinet announcement and David Mabuza being DP again
A bit of everything really;

"The rand does not like the headlines that David Mabuza is in the running to become deputy president," said Otunuga.
Ongoing US-China trade developments, Brexit uncertainty and the return of drama over the Italian state budget are just some of the themes concerning investors," he said.
https://www.fin24.com/Markets/Currencies/rand-plunges-in-early-trade-amid-cabinet-uncertainty-trade-war-worries-20190529
 
Top