The ZAR Exchange Rate Thread

Status
Not open for further replies.
R2 (yes, R2, not R20) to the Dollar is coming. Hang on tight.
 
wingnut771 said:
How long do we have to wait?
Click to expand...

Probably not long before the US economy collapses and the oil and gold price decoupled from the Dollar. If the Biden admin and democrats retain government in 2024, likely in the next 10 or so years.
 
rvZA said:
Probably not long before the US economy collapses and the oil and gold price decoupled from the Dollar. If the Biden admin and democrats retain government in 2024, likely in the next 10 or so years.
Click to expand...
and bitcoin?
 
rvZA said:
Bitcoin, as with any other crypto will follow the markets, but will likely end up being the biggest payment processor.
Click to expand...
I was seriously thinking about dumping what crypto I possessed as it is worth a fraction of what I paid for it. Rather keep it for now then?
 
dabbler said:
I was seriously thinking about dumping what crypto I possessed as it is worth a fraction of what I paid for it. Rather keep it for now then?
Click to expand...

At this point in time, having anything invested in any market is a risk and you will suffer severely. The same for crypto since it is closely moving with the markets.
 
dabbler said:
I was seriously thinking about dumping what crypto I possessed as it is worth a fraction of what I paid for it. Rather keep it for now then?
Click to expand...
Depends on what crypto? If you haven't sold yet, then you are far better off holding it than selling it. Far more upside potential than downside. Unless by 'crypto' you mean shitcoins like $CumInU and $BSV.

Now is the time be dollar cost averaging for the next bull market.

September is historically a bad month in the markets, and with midterm elections upcoming markets are likely to rally. S&P 500 is at key support, primed for a bounce, and if Dow Jones can reclaim the June lows it is risk on.
 
Last edited:
This has very little to do with the ZAR, we are effectively nothing in world terms at this point.

People are going all in on the USD to try and protect themselves against the coming collapse/recession/whatever you want to call it.

Oh noes!!! The ZAR is 21% down on the USD in the last year!!!!

Well...

GBP to USD 27% down
EUR to USD 21% down
YEN to USD 29% down
 
Someone please explain, surely there is/was money to be made in FX conversion if $/R is at its highest in a long while, and yet £/R was at its lowest in a week ( down nearly 6% as of early this am, yes it's strengthened since but still considerably weaker ..)

i.e buy more £s for your R, and get more $ for your £s ! Some traders have probably taken advantage of this and made a nice quick profit over the weekend...
 
MirageF1 said:
Someone please explain, surely there is/was money to be made in FX conversion if $/R is at its highest in a long while, and yet £/R was at its lowest in a week ( down nearly 6% as of early this am, yes it's strengthened since but still considerably weaker ..)
Click to expand...
Trade Forex on PrimeXBT. No KYC requirements.
 
MirageF1 said:
Someone please explain, surely there is/was money to be made in FX conversion if $/R is at its highest in a long while, and yet £/R was at its lowest in a week ( down nearly 6% as of early this am, yes it's strengthened since but still considerably weaker ..)

i.e buy more £s for your R, and get more $ for your £s ! Some traders have probably taken advantage of this and made a nice quick profit over the weekend...
Click to expand...

Surely high frequency traders snap up any slack as it becomes available?

I’ve also wondered about that but it seems only the big dogs make money in forex.
 
Status
Not open for further replies.
Back
Top
Sign up to the MyBroadband newsletter
X