The ZAR Exchange Rate Thread

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LazyLion

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Financial Crisis not over: SARB

The world financial crisis, including in South Africa, is not over, SA Reserve Bank governor Gill Marcus said on Wednesday.

"We are meeting in very difficult times... We may go in and out of the recession but we have not come out of the financial crisis," said Marcus.

"Behind the statistics are ordinary people whose lives have been fundamentally affected."

Marcus was speaking at a PricewaterhouseCoopers breakfast in Sandton on women in banking and capital markets.

She said South Africa was still in "unprecedented times" and it was not business as usual.

Her speech was primarily focused on women, women in leadership, and the problems women faced in business.

Women often needed to make more sacrifices because of social responsibilities like looking after children and their households, and therefore women needed a better support system.

"Women tend to rise on support services," she said.

"Weigh up responsibilities and see the price women have to pay, then create a support network to cope," Marcus told the women at the breakfast.

She encouraged women to be "present" at work and said they needed to add value in the workplace.

The skills shortage made it important to educate girls.

She encouraged women who wanted to succeed to enhance their skills levels, as well as work on exposure and experience.


Source : Sapa /dm/tk/jk/jje
Date : 21 Aug 2013 10:42
 

krycor

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Ja nee.. these days a dual income household where both are well educated is the best scenario. Where one partner carries full financial cost is a very tough situation which isn't very feasible as it use to be in the past.

I wonder if interest rates will go up come dec though.. rand depreciation must make it hard for them to swing up when situation kinda requires it to go down so maybe they will just keep it at present rate.
 

MKFrost

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Rand not having a good day today. Just broke through R10.40. Currently at R10.425

Looks like we might get to R10.50. If R10.70 area breaks then we are in some serious trouble.
 

LazyLion

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Not being negative and all that but this is great news as I earn in Dollars and stash away until times like these. Brought in a large amount yesterday and will pull another tonight.

We buy all our company stock in dollars, so this is terrible news for our business. :(
 

dlk001

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Not being negative and all that but this is great news as I earn in Dollars and stash away until times like these. Brought in a large amount yesterday and will pull another tonight.

Great news for mining exports.
 

dlk001

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With the gold and platinum prices taking a tumble this has a lesser effect.

Also from the latest figure I read that exports have not picked up as much as expected.


No really, Anglo, Implats, Lonmin benefited from weaker rand. It is reflected in their 2013 H1 earnings.

Kumba Iron Ore H1 earnings were so good because of weaker rand despite volumes being down. It paid a record dividend to AngloAmerican of R20/share and contributed 50% to AngloAmerican's revenue/profit.

Weaker rand has also impacted on Anglo Platinum's decision to retrench less labor than originally anticipated.
 
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MKFrost

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Seems like we will head back towards the R10.30 area going into this week. Doubt whether we will break back below R10.00. Will take some serious news out of our economy/gov to make that happen and I seriously doubt that will happen.
 

MKFrost

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...Looks like we might get to R10.50...

Went to R10.5066 just after 6 this morning....

Will we see R11.00? In two minds about that, on the one hand it will earn me a lot of extra Rand's but on the other it will mean that that 'extra' earnings are wiped out by all the subsequent knock on effects of the weakening rand i.e. price increases etc...
 
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LazyLion

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Rand hits four-year low

http://www.futurecurrencyforecast.c...d-exchange-rate-rand-hits-four-year-low/21423

The South African Rand tumbled to a four-year low against the US Dollar on Wednesday as foreign investors continued to extract their funds from the country as fears over military action against Syria and labour unrest hammer risk sentiment.
The currency fell to R10.40 to the $ and could slide further to R10.60 this week.

Investors worldwide have been pulling their funds out of riskier emerging markets as uncertainty over whether the USA will continue its massive monetary easing programme and as concerns mount over the possibility of military action in the Middle East. South Africa is particularly vulnerable to the external shocks as the economy is already under heavy pressure from ongoing labour disputes and strikes in major sectors such as auto production and mining.

Long running wage disputes between employers and the country’s two biggest labour unions now threaten to spread. The argument could cause up to 335,000 workers to take strike action.

On September 2nd up to 72,000 workers from the auto sector are expected to strike after wage talks broke down. They will join employees in the auto-manufacturing, construction and aviation industries that are already on strike, while gold mines face the threat of labour action. Due to the Syrian crisis the demand for gold has climbed to a three-month high.

The Rand is now the third-weakest currency after the Turkish lira and Indian rupee among a basket of emerging market currencies trading against the Dollar.
Current South African (ZAR) Exchange Rates:

The US Dollar/South African Rand Exchange Rate is currently in the region of: 10.4008 >

The Pound Sterling/South African Rand Exchange Rate is currently in the region of: 16.1138 >

The Euro/South African Rand Exchange Rate is currently in the region of: 13.9079 >

The Australian Dollar/South African Rand Exchange Rate is currently in the region of: 9.2756 >

The New Zealand Dollar/South African Rand Exchange Rate is currently in the region of 8.0639

(Correct as of 12:25 pm GMT)
 

LazyLion

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South African Rand to Dollar Exchange Rate (ZAR USD) Tumbles on strike fears

The South African Rand to Dollar exchange rate (ZAR/USD) has tumbled to a four-year low after it extended its losses as the global sell-off of emerging market assets continues.

The Rand to Dollar exchange rate is currently trading at 0.0961 ZARUSD. The inverse Dollar to Rand exchange rate is 10.3999 USD/ZAR.

The Rand exchange rate has been struggling for months due to investors choosing to pull out of emerging market currencies on the basis that the US Federal Reserve could begin to taper its quantitative easing policy by as soon as September. Now as tensions build over a possible conflict with Syria the speed of investor withdrawal has accelerated as they seek shelter in the safe haven US Dollar and Yen.

Another major factor for the Rand’s decline is the ongoing concerns over the stability of the South African labour market. Long running wage disputes now threaten to cause up to 335,000 workers to take strike action. Deadlock between employers and the country’s two biggest labour unions now threaten to spread.

On September 2nd up to 72,000 workers from the auto sector are expected to strike after wage talks broke down. They will join employees in the auto-manufacturing, construction and aviation industries that are already on strike, while gold mines face the threat of labour action.

The National Union of Metalworkers of South Africa (Numsa) said; “We have taken a conscious decision to exercise our hard fought democratic and constitutional right to embark on an indefinite strike action. The strike action has not been on our agenda, but it has been imposed on us.”

The next piece of key data for the Rand comes on the 30th of August. The balance of trade data is likely to show a decline compared to the previous month as the strikes impact the wider economy.

- See more at: http://www.currencynews.co.uk/forec...ate-zar-usd-tumbles.html#sthash.m9RwPECI.dpuf
 

w1z4rd

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South African tourism must be smiling. This makes South Africa a much more appealing tourist destination. I know all the farmers that export are smiling :)
 

MKFrost

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I see that the Trade Balance news gave the Rand a bit of a kick.

Strengthened from around R10.33 to R10.25, now hovering around the R10.25 mark.
 

MKFrost

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I know all the farmers that export are smiling

Yes until they need to start buying chemicals etc.. again, then its back to moaning about inset costs....
 
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