The ZAR Exchange Rate Thread

3WA

Executive Member
Joined
Sep 25, 2012
Messages
9,285
Who got excited and bought forex when it broke through R16 to the dollar?

/raises hand
 
  • Sad
Reactions: air

R13...

Honorary Master
Joined
Aug 4, 2008
Messages
34,387
Hey I need to buy some stuff from Amazon. Wonder if I wait and hope it drops further or buy now before the world goes mad in the US.
 

3WA

Executive Member
Joined
Sep 25, 2012
Messages
9,285
Not for USD, was at r14 at beginning of year.

Yeah, but it spent most of the 2nd half of last year in the low 15s. I know - I had to make an emergency purchase of ~$10,000 a year ago. When it strengthened in December, I was disgusted.
 
  • Sad
Reactions: air

Lupus

Honorary Master
Joined
Apr 25, 2006
Messages
28,096
Holeeee sheeeeaat! We're back at 2019 levels.
Not quite we're at February 2020 levels, do you think places would start adjusting their prices back? Like you know when the Xbox One s console shot up to R6999 from R2999??
 

3WA

Executive Member
Joined
Sep 25, 2012
Messages
9,285
Not quite we're at February 2020 levels, do you think places would start adjusting their prices back? Like you know when the Xbox One s console shot up to R6999 from R2999??

R15.25 now, stronger than most of August 2019 (as an example).
 

genetic

Honorary Master
Joined
Apr 26, 2008
Messages
33,231
The rand hit a more than eight-month high against the dollar on Monday (9 November), as markets cheered Joe Biden’s election as the US president on hopes that a calmer White House could boost world commerce and that monetary policy would remain easy.

Stellenbosch University’s Bureau for Economic Research (BER) said that under a Biden win, South Africa stands to benefit.

Two major implications would be the subdued dollar – as a result of the aforementioned stimulus package – as well as the boost for China, which is a major trading partner for South Africa.

 

Lupus

Honorary Master
Joined
Apr 25, 2006
Messages
28,096
R15.25 now, stronger than most of August 2019 (as an example).
So you're basing it on a few days in August and October? There were points where it dropped to 13.28? It averaged out at about R14.50 to the dollar for 2019, right up till February of this year where it just went free fall.
 

3WA

Executive Member
Joined
Sep 25, 2012
Messages
9,285
So you're basing it on a few days in August and October? There were points where it dropped to 13.28? It averaged out at about R14.50 to the dollar for 2019, right up till February of this year where it just went free fall.

Yes. It is within the same range as it was in 2019. I didn't say it was at the strongest levels of 2019. If that's what you understood, that’s on you.
 

RVQ

Expert Member
Joined
Apr 30, 2007
Messages
1,914
Who got excited and bought forex when it broke through R16 to the dollar?

/raises hand

I couldn't stand the gamble anymore and did my first transfer at the 15.50 mark but still have more to transfer and now holding hope for the 15 marker, I believe it is already oversold so bit of a high risk
 
  • Like
Reactions: 3WA

MirageF1

Executive Member
Joined
Jun 29, 2018
Messages
6,532
Get a Shyft account.
You can transfer Rs to it and wait to see if rate goes in your favour.

If not, transfer it back into your SA bank account. Simple.

You can exchange/hold any of $,£, Aus$ or Euro currencies currently and use physical/virtual cards to make online purchases/ immediate bank payments internationally(£10 or equivalent flat fee)
 
  • Like
Reactions: McT
Top