The ZAR Exchange Rate Thread

Status
Not open for further replies.
I wonder what is going to happen to the Rand today?

We certainly had a dip in the value yesterday.

The markets reacted negatively to the budget.
 
$ = R 7.75
£ = R 15.20
€ = R 11.44
Gold = $ 945.65
Oil = $ 97.53
Last update 21-Feb-2008 16:30:00


Firming slightly apparently.
 
I can't seem to find anything to back this up but the dollar looks alot weaker than the last time the Pound was so high.
 
Aus $ was 5.95 in oct , now it is 7.19 - my move is getting more expesive by the day!
 
hi, a it off topic, but from my understanding.

We had strong exchange controls. so if a company wanted to invest in SA they could not really take all there profits out again. they had to re invest it back into the country.

Now that exchange controls have been relaxed. We will see more investment in SA as they can take more money out again.

However the rand will weaken for a while as there will suddenly be a lot more Rands avalible overseas. until the initial shock is over.

Please correct me if i am wrong. as this is my understanding.
 
gboy said:
hi, a it off topic, but from my understanding.

We had strong exchange controls. so if a company wanted to invest in SA they could not really take all there profits out again. they had to re invest it back into the country.

Now that exchange controls have been relaxed. We will see more investment in SA as they can take more money out again.

However the rand will weaken for a while as there will suddenly be a lot more Rands avalible overseas. until the initial shock is over.

Please correct me if i am wrong. as this is my understanding.
Click to expand...

I think,if i invested here,and i could take all my money out,i would.

Investors unfortunately, vote with their feet.

If they get an idea that the country is not stable,(like the Escom crises),they run.....
 
there haven't been exchange control restrictions on foreigners for a long time.
 
^ True. I can move my entire paycheck overseas every month with no penalty if I wanted.
 
dont worry ....
Rand will pull back
took a quick peek at some forecasts for US growth for 2008 ...um 2.0%......1.9% ........1.3% (this also means no recession for them)

interest rate - going to be cut to the bone......

ourshore is much better than theirshore..
 
Last edited:
$ = R 7.74
£ = R 15.23
€ = R 11.48
Gold = $ 946.45
Oil = $ 96.62
Last update 22-Feb-2008 14:30:00
 
Status
Not open for further replies.
Back
Top
Sign up to the MyBroadband newsletter
X