The ZAR Exchange Rate Thread

[Swa]

Where is the rand physically trading now?

Lots of small and over the counter exchanges.

 

[yebocan]

All emerging markets are tanking hard. Worst drop since the 2008 financial crisis.

ironically, we were mostly insulated from the 2008 ****fest - now, we all in the same misery boat.

 

[yebocan]

Almost R1 trillion was wiped off the South African stock market last week

Almost R1 trillion was wiped off the South African stock market last week | News24

Even gold shares took a beating.

www.businessinsider.co.za

+

US stocks erase $3.18 trillion in value this week amid coronavirus tailspin

US stocks erase $3.18 trillion in value this week amid coronavirus tailspin

The coronavirus wiped $3.18 trillion in market value from U.S. stocks this week, according to estimates from S&P Dow Jones Indices.

www.cnbc.com

 

[MirageF1]

If COVID-19 moves from epidemic to worldwide pandemic we could experience a doomsday scenario like Wall Street crash of 1929....

All it would take is US or Chinese markets to implode completely.

 

[braailekker11]

Great news for local dollar earners

 

[braailekker11]

If COVID-19 moves from epidemic to worldwide pandemic we could experience a doomsday scenario like Wall Street crash of 1929....

It is a proper pandemic now. WHO either refuses or is not permitted to acknowledge the fact that it's a pandemic now. SA economy will be wiped out after the virus finishes working on us.

 

[chrisc]

Kruger Rands at R27400 today. After 26th March there might be a big jump, if Moody's degrade SA investments

 

[rietrot]

Kruger Rands at R27400 today. After 26th March there might be a big jump, if Moody's degrade SA investments

Linked to the gold price in US dollars

I think it's about at its peak at $1600 and R16 for a dollar.

 

[Swa]

It is a proper pandemic now. WHO either refuses or is not permitted to acknowledge the fact that it's a pandemic now. SA rural population will be wiped out after the virus finishes working on us.

ftfy. No matter what they keep saying about our "top notch" labs and whathaveyou's they don't have the capacity or competence to deal with this if it lands here.

 

[MirageF1]

It is a proper pandemic now. WHO either refuses or is not permitted to acknowledge the fact that it's a pandemic now. SA economy will be wiped out after the virus finishes working on us.

No it isn't yet...

Opinion | We Knew Disease X Was Coming. It’s Here Now. (Published 2020)

We need to stop what drives mass epidemics rather than just respond to individual diseases.

www.nytimes.com

the scale/impact of pandemic is an order of mag larger e.g Spanish Flu

Spanish flu - Wikipedia

en.wikipedia.org

 

[Lupus]

No it isn't yet...the scale/impact of pandemic is an order of mag larger e.g Spanish Flu

https://www.nytimes.com/2020/02/27/opinion/coronavirus-pandemics.htmlhttps://www.nytimes.com/2020/02/27/opinion/coronavirus-pandemics.html

It's the scare factor and media hype that are getting to a lot of people.

 

[Swa]

It's the scare factor and media hype that are getting to a lot of people.

Perhaps because there's a legitimate fear? So far the only way to handle an outbreak that works is to shut absolutely everything down and keep people indoors.

 

[bchip]

Perhaps because there's a legitimate fear? So far the only way to handle an outbreak that works is to shut absolutely everything down and keep people indoors.

Did you know the common flu kills ~1,500 per day?
Should we really stop the whole world because there's a heavy flu,
considering less than 3% of the people die from it, and of the 3% -> 80% of them are the elderly
So of the 97% other infections all these people survive, they have a sore throat and a cough for 2 weeks.

Your suggestion would result in thousands of job losses for that.

 

[krycor]

Did you know the common flu kills ~1,500 per day?
Should we really stop the whole world because there's a heavy flu,
considering less than 3% of the people die from it, and of the 3% -> 80% of them are the elderly
So of the 97% other infections all these people survive, they have a sore throat and a cough for 2 weeks.

Your suggestion would result in thousands of job losses for that.

That’s 20x worse than standard flu. 2% of China’s population is a huge number.

 

[krycor]

Globally we likely to head into a recession if it is not sorted by April..

 

[Swa]

Did you know the common flu kills ~1,500 per day?
Should we really stop the whole world because there's a heavy flu,
considering less than 3% of the people die from it, and of the 3% -> 80% of them are the elderly
So of the 97% other infections all these people survive, they have a sore throat and a cough for 2 weeks.

Your suggestion would result in thousands of job losses for that.

You're comparing apples and oranges. The flu is neither as contagious nor as deadly. Even the worse flu pandemics are less than 0.2%. The Spanish flu has a mortality rate of 2-3% but is also not as contagious. What do you think would happen if COVID19 was left unchecked in the same manner?

And what exactly do you call "my suggestion", lol?

 

[bchip]

And what exactly do you call "my suggestion", lol?

Perhaps because there's a legitimate fear? So far the only way to handle an outbreak that works is to shut absolutely everything down and keep people indoors.

That’s 20x worse than standard flu. 2% of China’s population is a huge number.

It wouldnt be 2% of China's population, it would be China's elderly population
The 98% just get booked off for a week and survive.
The one tour operator has had it twice already and survived both times.


2% of the deaths worldwide are already caused by Influenza/Pneumonia as the 8th largest killer
Dont see the world in a panic about that.
https://www.cdc.gov/nchs/data/nvsr/nvsr68/nvsr68_09-508.pdf [pg6]

 

[The_Right_Honourable_Brit]

Globally we likely to head into a recession if it is not sorted by April..

The number of people recovering seems to be exceeding the number of new infections for quite a few days now.

 

[Swa]

It wouldnt be 2% of China's population, it would be China's elderly population
The 98% just get booked off for a week and survive.
The one tour operator has had it twice already and survived both times.


2% of the deaths worldwide are already caused by Influenza/Pneumonia as the 8th largest killer
Dont see the world in a panic about that.
https://www.cdc.gov/nchs/data/nvsr/nvsr68/nvsr68_09-508.pdf [pg6]

Are you being deliberately obtuse here? Normal influenza has a mortality rate of less than 0.2% and isn't even as contagious. Do you even know how contagious this is and how many of the population would die if left completely unchecked? Saying that 2% of deaths are caused by Influenza/Pneumonia is the wrong metric.

And I don't think you understand what it is I said. I didn't say we should shut everything down. I said IF an outbreak occurs then that's the only thing we can do like China has. Or did you see them doing something else?

 

[BBSA]