The ZAR Exchange Rate Thread

[hj2k_x]

$ = R 7.63
£ = R 15.04
€ = R 11.15
Gold = $ 911.08
Oil = $ 93.61


Seems it has reached its peak at least and is on the way to getting stronger ...

 

[Moederloos]

$ = R 7.63
£ = R 15.04
€ = R 11.15
Gold = $ 911.08
Oil = $ 93.61


Seems it has reached its peak at least and is on the way to getting stronger ...

Until someone in the ANC opens their mouth again.

 

[hj2k_x]

Budget speech is around the corner. That should be interesting.

 

[milomak]

the budget speeches are almost nearly damp squibs due to the MTBPS in October. The only thing out of the ordinary this one will feature is Eskom related government funding/guarantees. And I would be surprised if most of the market has not factored that in by now.

 

[hj2k_x]

And Trevor can tell us about the new taxes we'll be paying.

Hopefully to build some new power stations at least.

 

[sand_man]

Budget speech is around the corner. That should be interesting.

I would imagine the next major hurdle the rand faces would be the elections in Zim in March. In all lightly hood it's an election Bob will win, it's an election that will be rigged and it's an election that will result in some fatalities, this all will put our currency under pressure...

 

[koffiejunkie]

this all will put our currency under pressure...

Especially since our banana republic will, once again, declare the Zim elections free and fair

 

[sand_man]

declare the Zim elections free

Perhaps by free they mean you don't have to pay to vote...

 

[koffiejunkie]

Perhaps by free they mean you don't have to pay to vote...

Sad thing is, they do pay, dearly. Just not with money

 

[hj2k_x]

$ = R 7.67
£ = R 15.12
€ = R 11.22
Gold = $ 909.48
Oil = $ 94.99

Seems to be fairly steady.

Apparently $7.60 is a key frontier that needs to be crossed to show true signs of recovery.

 

[Piepalook]

Hopefully to build some new power stations at least.

Hopefully to build power stations and not to buy more military armament.

 

[Turtle]

oneday people will realize that gold is only another metal, and millions of tones of it are already stored away for no good use

It's used as a de facto hedge against currency risk, if I understand correctly. This is not 'utility value' in the traditional sense, but loosely speaking is a kind of utility in and of itself, just a slightly arbitrary one. I mean, it doesn't mean everyone can just throw that gold away. It's a little bit like insurance, I suppose (if you plan to hold on to it).

In practice I can't see how the gold in vaults could ever be distributed equitably should some economic apocalyptic catastrophe result in a reversion to gold as currency, but then I don't really know much about these things.

opec is also holding back a whole lot, they could push the oil price alot lower if they wish, I don't think they could or would remove more crude.

They could push it lower indeed, or higher; pity we have price fixing. The higher they push the price, the bigger the pressure to come up with alternatives. Let's hope something else e.g. solar becomes cheap within the next couple of decades (and that we get some breakthroughs in battery tech). These ARE the future - so whoever comes up with something clever here will get very rich. Looking at the state of the tech, I think that we will have some interesting breakthroughs within the next decade or two, which may be why Opec is holding the price high now - i.e. make money before alternate energy sources cause the value of oil to drop.

I may be wrong, but i'll rather invest in something that is more ground breaking, and will always be a better need to humans, and thus may always be profitable.

Yes, for all intents and purposes gold "investment" is only a speculative investment, not a true investment, especially if "invested in" via instruments. But even if you put a gold bar on your kitchen table and stare at it, it isn't going to do anything to create value for you.

 

[hj2k_x]

$ = R 7.67
£ = R 15.04
€ = R 11.26
Gold = $ 906.25
Oil = $ 95.61

A quiet day for once. Dipped below 7.60 for a while but then fell again in late risk averse trade. (so I have been told )

 

[Robin Hood]

seems stable so far...

 

[hj2k_x]

$ = R 7.63
£ = R 14.89
€ = R 11.17
Gold = $ 903.95
Oil = $ 95.10

Recovering some more...

 

[Piepalook]

$ = R 7.63
£ = R 14.89
€ = R 11.17
Gold = $ 903.95
Oil = $ 95.10

Recovering some more...

Thank God. i am in the process of importing solar panels and inverters.

 

[hj2k_x]

Thank God. i am in the process of importing solar panels and inverters.

And maybe we will see the food prices stabilise at some stage as well. Cos right now, the only way they know is up

 

[Piepalook]

And maybe we will see the food prices stabilise at some stage as well. Cos right now, the only way they know is up

It's amazing that when the fuel price goes up,food also goes up.
When the fuel price goes down (granted it doesn't happen often) the foodcost doesn't decrease accordingly.

 

[bodhi]

It's amazing that when the fuel price goes up,food also goes up.

Supply chain economics

 

[Gooku]

Wild fluctuations in exchange rate add costs to economy which we consumers ultimately have to pay for, not to mention it is also a business headache.

Perhaps Reserve bank ought to hire a few extra boffins ,just to keep speculators away from the pool.it is not unusual for developing nation to do .....