The ZAR Exchange Rate Thread

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For all intents and purposes we can stop comparing Rand to Dollar.
The dollar died tonight.

We should compare the Rand to Euro or Pound.
We will get a better idea of what the rand is worth.
 
Piepalook said:
Yes. American markets are open.
Asian markets opening in 2 hours time.
Australian markets opens 3 hours later than Asian.

There is going to be a bloodbath when the asian markets opens.

The Asians are probably breaking the stockmarket doors down by now.
They are going to dump dollars bigtime.
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I see.

Code: 
1.00 GBP = 16.1939 ZAR

Haven't seen it fall like this from hour to hour before.
 
hj2k_x said:
I see.

Code: 
1.00 GBP = 16.1939 ZAR

Haven't seen it fall like this from hour to hour before.
Click to expand...

My first time as well.

Looks like Black friday.

Do you think the Yanks are going to jump out of their buildings again?
 
R 8.08./Dollar
R16.26/Pound.
OMG! I cannot watch this.
 
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Rand and dollar in free fall.

I have never seen anything like this before.

Rand @ R8.08 against the dollar
Rand @ R 16.26 against the pound.

Black friday.
 
hj2k_x said:
It is just falling....I cannot believe it really. Don't wanna know what's it's gonna be by the end of trade tomorrow....:(
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I have a container of inverters coming in from China.
I was supposed to pay it on monday.
I delayed in the hope of a better exchange rate.
Now i am dead in the water.
I think i am going to kick myself.

I lost about 15 k tonight.
 
Piepalook said:
I have a container of inverters coming in from China.
I was supposed to pay it on monday.
I delayed in the hope of a better exchange rate.
Now i am dead in the water.
I think i am going to kick myself.

I lost about 15 k tonight.
Click to expand...

Sucks man :(

What kind of inverters?
 
finally went past the R8 barrier huh?

so 9/11 and Zimbabwe caused the last freefall, whats the problem now?
 
Black Friday on the markets, in other words, green all over...

Especially the resources index tomorrow.

But on the other side, this is going to push up inflation, and then the interest rates hikes are going to come again, not as if they not going to come anyway... :(

My question: Why bother about inflation if you can't do nothing about it; in regards to petrol/transport and food prices? The biggest culprit.
 
boramk said:
finally went past the R8 barrier huh?

so 9/11 and Zimbabwe caused the last freefall, whats the problem now?
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No confidence in the dollar.
The dollar is dragging us down as well.
Asian markets just opened.
I think they are going to dump dollars.
 
hj2k_x said:
Can the SARB do anything??
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Well they can use the forgein reserves to calm things down.

For instance sell dollars in the open market and get paid in rands, then all over to supply and demand. Less rands in the market, rand should appreciate.
 
kiepie said:
Well they can use the forgein reserves to calm things down.

For instance sell dollars in the open market and get paid in rands, then all over to supply and demand. Less rands in the market, rand should appreciate.
Click to expand...

Don't we have a current account deficit though, meaning we have to dip into our reserves as it is?
 
hj2k_x said:
Craziness. I wonder what will be done in the morning to combat this. Can the SARB do anything??
Click to expand...

They have to increase the interest rate.

If we have reserves they will use it to buy rands and thereby support the rand.

What worries me is that the American federal reserve did not intervene.
It can only mean two things:
1. they are confident that they can ride it out.
2.They have no reserves available.

In the second scenario we are all in deep ****.
Depression.
 
Dollar shows a slight increase against the pound.
Someone is buying dollars.
 
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