The ZAR Exchange Rate Thread

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Ozymandias said:
There's a strong possibility that the Dollar could drop in the long run. As US treasury bonds mature, holders of these securities like China and Japan, might need that cash to prop-up their own home economies as the fall-out from the global financial meltdown begins to bite.
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I very much seriously doubt the Japanese will do that for both internal and external reasons. China - has lots of $$$ supposedly and they wouldn't want to devalue what they currently have either.
 
PeterCH said:
Good post!

I usually use Xe.com for general trends and small purchases.

PayPal are also able to charge in SA Rands directly, if you elect to
set this option, it gives you the ZAR amount your card will be charged,
or you can let them charge you USD (et al).
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I have also noticed that paypal tends to be alot cheaper when selecting their currency converter.

When I ordered a batch of iPhones the total charge on my credit card via their route was R24550. When I changed it to my bank doing the exchange rate it ended up being R24770. Note that I bought the second batch a week after the first one and that the exchange rate was 14c cheaper for us to buy $.

It shows you how much our banks charge extra.

SO...

Golden Tip:

Always use paypal's converting option!
 
Everybody sitting with rands in their pockets is about to loose a lot. The writing has been on the wall for a few months now. If you have rands, shame on you!
 
Dont be such a doomsday freak.

I think its safe to say that if you are holding cash right now, its not such a bad idea. The $ will crash soon, unfortunately taking many others with it.

SA has one saving grace: gold.
 
MacNabs said:
Everybody sitting with rands in their pockets is about to loose a lot. The writing has been on the wall for a few months now. If you have rands, shame on you!
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Shame on me? What shall I put it in? NZ$? Methinks not...
 
I am literally with my one foot already in the bank, waiting to transfer my Euros to Rands.
Now R12.90 to the Euro! Wooooooooooooot!!!!
 
The current market turmoil will eventually stabilise. The US$ will not hold its position for very long.
 
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Skinner said:
I am literally with my one foot already in the bank, waiting to transfer my Euros to Rands.
Now R12.90 to the Euro! Wooooooooooooot!!!!
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you said the same day before yesterday, and the day before that and the day before that..... I'm starting to think you have no Euro's to exhange ;)
 
Pitbull said:
you said the same day before yesterday, and the day before that and the day before that..... I'm starting to think you have no Euro's to exhange ;)
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I am prepared and ready to do a massive Forex transfer at the moment I realise that the Euro will weaken and stay weak for a while, and the Rand will strengthen and stay strong for a while. Therefor I am monitoring the driving forces that determine the strength of those currencies, closely. Of course this has to be offset against the capital I need to restart my establishments in SA (I am returning to SA in 10 days). I try not to touch my other investments for this purpose.

I have just under €100.000,- to exchange - for now - do the maths how much Rand that is.
 
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Skinner said:
I am prepared and ready to do a massive Forex transfer at the moment I realise that the Euro will weaken and stay weak for a while, and the Rand will strengthen and stay strong for a while. Therefor I am monitoring the driving forces that determine the strength of those currencies, closely. Of course this has to be offset against the capital I need to restart my establishments in SA (I am returning to SA in 10 days). I try not to touch my other investments for this purpose.

I have just under €100.000,- to exchange - for now - do the maths how much Rand that is. I bet you would love that amount of hard Rand cash in your hands, to put down as deposit on a brand new Ferrari or 10 new flat-screen TVs for your... excuse me, bank's house... wouldn't you? I mean, that's what most South Africans would do with such cash, isn't it? Use it to make more debt. :rolleyes:
I will come and wave the wads in front of your nose so you can smell it. :p
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bla bla bla bla :rolleyes:

I have 8 kids, 4 wifes and 30 dogs
 
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