The ZAR Exchange Rate Thread

[cpu.]

Re: Rand/Dollar rate

If it breaks below 8.50 year end maybe closer to 8.20

Then what?

 

[w1z4rd]

My brother in law quoted on building substations in another African country in dollars. Its a 20 million dollar US development project. He is smiling at this exchange rate.

 

[Vrotappel]

S&P downgrades SA

South Africa FC Long-Term Rating Lowered To 'BBB'; LC Ratings Lowered To 'A-/A-2'; Outlook Remains Negative

Two more downgrades and the Rand becomes junk.

 

[LazyLion]

R9.05 to the Dollar today!

 

[Arthur]

R9.05 to the Dollar today!

No, $1 yields R9.05 when converting dollars to Rand.

It costs R9.24 to buy a dollar.

 

[LazyLion]

No, $1 yields R9.05 when converting dollars to Rand.

It costs R9.24 to buy a dollar.

Not if you know where to go!

I can often get it lower than the median rate.

 

[ToxicBunny]

So we finally breached the R9 mark...

Good to know the ANC are helping our economy..

 

[Arthur]

Not if you know where to go!

I can often get it lower than the median rate.

I do to. Like you, I was quoting commercial bank TT rates for amounts under R50K. I do this daily.

Interesting to see the Buy/Sell Rate spread narrow to around ZAR0.20. For quite a while it's been over ZAR0.30.

 

[DJ...]

I do to. Like you, I was quoting commercial bank TT rates for amounts under R50K. I do this daily.

Interesting to see the Buy/Sell Rate spread narrow to around ZAR0.20. For quite a while it's been over ZAR0.30.

Larger volumes on the back of breaking through the $9 resistance?

 

[Creag]

Regretfully the Rand's current weakness combined with the rising oil price is likely to see the cost of fuel increase in March too

 

[Cius]

Yep, by around 42 cents apparently. Still, we need to remember that the dollar has low inflation while we have high inflation so its kind of expected that the rand will over time depreciate against the dollar. Still, it seems to do it in rather rapid jumps.

 

[Creag]

Really sickening. Government seems to welcome the Rand's weakness. I know it's great for our exports, but as far as I'm aware, our imports are greater than our exports. So does their joy make sense?

 

[Creag]

I see that the Rand strengthened today. Back below the psychological R9 to the US dollar. Good to see. Hopefully it will strengthen a bit more. I'd prefer to see it around 8.

 

[Creag]

The Rand seems to be maintaining its strength and holding on below 9 to the dollar. Personally I hope it strengthens further.

 

[LazyLion]

The Rand seems to be maintaining its strength and holding on below 9 to the dollar. Personally I hope it strengthens further.

Yep, me too... but we have already sent out the price increase letters to customers

 

[techead]

When (not if) we hit R10 this year, then Im going to sell one of our cars and buy a scooter to get to work.

Im over this fail government. We get downgraded again and again and the government just shrug their shoulders and say they dont care. Or rather, Zuma says "we open for business"

Bloody idiot

 

[krycor]

well now they can 'afford' to pay the salary increases made after the strike season last yr too bad it's not worth the same amount

 

[ToxicBunny]

We can hope that it stays below the R9 marker.. but I doubt we'll see it anywhere near R8 this year..

I am pretty sure unfortunately that when the politicking for next years elections starts in full force, that we will see the rand plunge to ridiculous levels. I am actually tempted to shunt a chunk of money out of the country just to take advantage of that.

 

[Devill]

When (not if) we hit R10 this year, then Im going to sell one of our cars and buy a scooter to get to work.

Im over this fail government. We get downgraded again and again and the government just shrug their shoulders and say they dont care. Or rather, Zuma says "we open for business"

Bloody idiot

The problem is that there is a difference between ZAR weakness and USD strength. Today it was USD strength that pushed the rand to the levels it fell to.

 

[LazyLion]

9.68 to the Dollar now! :wtf: