Looks like we might finally get to R10.50, that's if the Rand can get through that R10.60 barrier. Plenty of support in the R10.30/50 area. Going to take a big push to get through those. Will most probably bounce somewhere there and stay in this range for a while.
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The ZAR Exchange Rate Thread
- Thread starter Robin Hood
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Looks like we might finally get to R10.50, that's if the Rand can get through that R10.60 barrier. Plenty of support in the R10.30/50 area. Going to take a big push to get through those. Will most probably bounce somewhere there and stay in this range for a while.
Midnight_choir_drunk
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While SA really offers value for tourists. A contributer to the economy larger than mining.
It also means you don't have to leave your country for a holiday. Unless you need 5 star treatment.
Hoping that the Crimea situation gets resolved asap and that Numsa and the mines sign an official agreement (long term). That should help the Rand to keep going in the right direction.
Now if only we can get the government to bring out some new policies that will give the investors some positive news and grow the positive sentiment towards SA.....
XennoX
Expert Member
Expect a dip in the Rand strength around the elections. The last 2 elections saw the Rand weaken quite badly and then recovered 3 months after the election.
Well for myself it is. I do wonder what value for money you can get in places like Botswana and Namibia.
How much is it in what currency?
I wonder how the market will react to a lower ANC majority.
Drifter
Honorary Master
Devil, it's 450 GBP.
And a 15% EFF vote.
I want to travel to tanzania and zambia to do business, they work in usd anyone think it is better to wait or go now? there are plenty of people that are full of doom and gloom but it was these people that said the R would crash badly... 
I want to travel to tanzania and zambia to do business, they work in usd anyone think it is better to wait or go now? there are plenty of people that are full of doom and gloom but it was these people that said the R would crash badly...
Again what are you looking at spending? If the total is for instance USD 3,000.00 (Currently $3,000x10.75=32,250.00) and the ZAR improves by 75c (unlikely in the short term) then it will cost you USD 3,000.00 x 10.00 = R 30,000.00.
Is saving R2,250 (if the ZAR strengthens a lot - Unlikely in the short term) worth it to wait?
Current USDZAR: 10.7350
I want to travel to tanzania and zambia to do business, they work in usd anyone think it is better to wait or go now? there are plenty of people that are full of doom and gloom but it was these people that said the R would crash badly...
Just go...
The little you might be able to save is not worth postponing your trip for. At present I cannot see the Rand dipping below the R10.60 anytime soon and even so doubt whether it will go past R10.30/40.
What you can maybe do is bring some dollars back and hold onto them for a bit [think you may hold it for 3 months from return date] and maybe exchange that when the Rand is higher again to compensate for any 'loss' you take now.
Seems the Nkandla report did not do the Rand any favours as expected.
The Rand managed to make a low at R10.67 earlier today but have shot up to R10.78 in the past couple of hours. Looks like we will break R10.80 before the day is out.
The Rand managed to make a low at R10.67 earlier today but have shot up to R10.78 in the past couple of hours. Looks like we will break R10.80 before the day is out.
chicken247
Senior Member
Does anything a politician does in this country really have an impact on the exchange rate? I am starting to think local news dissemination is impeccably timed with like the Yellen FOMC thingie. In other words, correlation does not imply causation. Nobody knows where the rand is gonna be in 12 months, but we all know the game is rigged.
Not necessarily but what they say do carry some weight in terms of what they possibly may or may not know. Investors and or speculators base a large part of their decision making on the fundamentals of a country's economy.
When looking at the fundamental one can get an idea of what a country's economy is like and where it might be heading. The biggest problem however is to get your timing right and for this they keep their ears to the ground i.e. keep a watch for signals to indicate a shift in these fundamentals. One of the more important factors having an effect on these fundamentals are the various news events. These include the normal run of the mill news events like for example the monthly unemployment figures and the like but also the adhoc news events which could have an effect on the fundamentals of a country's economy.
So when a person who is perceived to be in the know say and or do something it could result in a direct effect on the market. Just look at the governors of the central banks who quite often will talk a currency up and or down meaning that they will say things in an indirect way in order to move the market in a certain direction. A good example of this is when they say that they will lift interest rates aggressively without actually doing so. The mere mention of the possible actions will move some investors/speculators to action.
So yes, what politician and or business leaders do and or say can have direct effects on the market to a greater and or lesser degree.
The Rand does not exist in a vacuum meaning that any movement on the Rand is not always attributable to something that happened in SA. The Rand is tied to the Dollar, Euro and the Pound [as well as all the other currencies but these are the majors] and as a result will move due to news events in those countries.
A movement on the Rand, whether positive and or negative, should thus not always be tied to events in SA as it could easily have been news which for example effected the Dollar and thus the Rand.
There are just to many variables involved to make an accurate prediction. Some do get it right but then again, it will go either up or down so some will have to be right if you think about it.
In regards to the markets being rigged. To some extend yes as the larger players can and do move the markets and some do have more insight than others. These players can however not move the markets for long. They might be able to cause a spike or so with news events by moving large amounts of capital around but the market quickly finds its balance again. Many central banks have tried moving their own currency and have failed miserably as the market forces are just to big.
So yes it might be rigged to some extend but never for very long.
I worked it out now vs october last year it is almost R35000 difference... I can't justify just wasting that amount
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genetic
Honorary Master
I worked it out now vs october last year it is almost R35000 difference... I can't justify just wasting that amount
R35,000 difference? :wtf:
How much are you spending?
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