The ZAR Exchange Rate Thread

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$ = R 7.42
£ = R 12.37
€ = R 10.85
Oil = $ 67.4
Gold = $ 1004.85
Last Update:
00:44 12 Sep 09

Gold price soaring. Rand strengthening. When are these things going to affect the price we pay for stuff? I know that petrol is meant to be coming down next month, but what about the rest of the stuff?
 
No, we just won't see as much inflation eg. 6% vs 8%
And us exporting less isn't a good thing, we'll just create a wider deficit, clearing the slab of the last few months surplus's
 
boramk said:
No, we just won't see as much inflation eg. 6% vs 8%
And us exporting less isn't a good thing, we'll just create a wider deficit, clearing the slab of the last few months surplus's
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Right, I see what you mean.

I would have thought that a slightly weaker Rand than it is now, would always be preferable, export-wise.
 
R7.14 to the dollar today... LOL @ all those economists who said it will go over R9 to the dollar by the year's end! :D
 
Molokai said:
The Rand has never gained just before elections, now as Zuma becomes the next president it can only get worse against the dollar.:eek:
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Really? Been 7.xx for ages now and slowly been gaining ground.

Love these old threads sometimes! :p
 
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killadoob said:
End of 2009 or 2010?

Slow day in the office gary?
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end of 2010... I deal a lot with currency exchange and imports. :D

... and we are going overseas as a family soon... and I want it to stay where it is right now! :p

(didn't we used to have a regular dollar/Rand thread? I can't seem to find that)
 
zippy said:
Is the Rand/Dollar rate significant for SA imports ? What about EURO and £? I would have thought Europe is a larger trading partner than the US??

Of course some exports such as gold are dollar based.

http://www.southafrica.info/business/trade/relations/trade_europe.htm
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Yes, both are significant... in fact we deal in three major currencies, the dollar, the Pound and the Euro (the dollar pretty much covers all imports for us from the East as well). We are an importer so we prefer a stronger Rand.
 
killadoob said:
The rand won't strengthen much i don't think, it is better for us to have the rand at 9 than 6 or 7. We need to export more than we import and a strong rand means we import more than we export which is bad.
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that is the most tricky part I want to ask you guys....

we export mainly to EU, right?

how USD exchange rate can affect our export competitiveness? :confused:
(basically all major currencies against USD are rising in the same time)
 
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