The ZAR Exchange Rate Thread

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Interesting to note that although the rand is taking a pounding 2nd to none, the stock market is flourishing at just under 31000pts...
 
BTech said:
well what do we expect... when eishkom say don't invest in SA, when politicians say that sleep makes you cleverererr, when president to be says a shower cure's aids , when idiot minister says that the solution to crime is that whigners leave, when infrastructure all around us is collapsing, when we have the overall worst schooling system in the world, when universities are torched trashed and businesses destroyed by loadshedding, agressive nonsensical EE, WHEN FOOD PRICES ARE SKYROCKETING, fuel prices out of control, interest rates killing us, capped broadban, when shacks are a tourist attraction, humiliating old black ouma's are a pass time...this place is sick man....

yep ZIM2.0 is here and soon JayCrab ZIMO and his ZIMO Muaritian style penny dolla will be in and yay we can have fun and genocide whitey and kill honest hard working blacks yay viva new Rainbow ZIM2.0 drenched in blood and poverty and unemployment and hunger..yay

this place makes me want to puke..I'm going back to bed and when I wake I'll go to work and suck it up for one more day..if I survive this hellhole called JHB
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Here is the guy living in Bryanston and spending his weekends on the Vaal whinging about how awful SA is again. Off to Perth with you, i say!
 
Captain Slog said:
Here is the guy living in Bryanston and spending his weekends on the Vaal whinging about how awful SA is again. Off to Perth with you, i say!
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I fail to see how his complaints about being killed and your dig at his wealth are related?
 
Moederloos said:
I fail to see how his complaints about being killed and your dig at his wealth are related?
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He is ALWAYS whining about how kark SA is and that he wants to leave! Away to Perth with all the malcontents.
 
Moederloos said:
I fail to see how his complaints about being killed and your dig at his wealth are related?
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<sarcasm>Don't you know rich people are BAD?</sarcasm> ... what communist silliness, it's good to have rich people, and people are more than free to complain, especially when there really are problems. "Whiners" are welcome in SA, and it's most excellent to have them here! If you think that SA would improve if the "malcontents" left, you are but so incredibly mistaken it's scary.

Anyway, back on topic, is it just me or does the local media seem to be all but ignoring this elephant-in-the-room Rand crash? News24 seems to report almost only minor day-to-day upticks (noise), so you get a series of headlines that make it sound like good news all the way ... this is exactly what appears in the 'Related articles' box on Fin24 today for a Rand article:

Rand perks up a bit (Mar 5)
Rand making a comeback? (Mar 6)
Rand rebounds from 5-year low (Mar 7)

WTF?

The most "negative" headline refers to the situation merely as "Rand volatility", an effectively neutral term that doesn't convey "major, rapid downward slide" at all, it suggests an overall level value. There's also pretty much silence on the believed causes of all this, or else explanations are given that are obviously nonsense.
 
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Turtle said:
Yeah, it's good for people to complain, the things being complained are valid, and believe it or not it's also good that we have rich people in SA, nothing wrong with being rich, and rich people are more than free to complain about things that bother them, so let it the f-ck go already. The current economic conditions are bad for virtually every one of us, and not even exporters seem to be popping champaigne too much this time, not as much as the last crash a few years ago.

Anyway, is it just me or does the local media seem to be all but ignoring this elephant-in-the-room Rand crash? News24 reports minor day-to-day upticks (noise) but ignores the horrendous slide, so you get a series of headlines that make it sound like good news all the way ... this is *exactly* what appears in the 'Related articles' box on Fin24 for the Rand:

Rand perks up a bit (Mar 5)
Rand making a comeback? (Mar 6)
Rand rebounds from 5-year low (Mar 7)

WTF?

The most "negative" headline refers to the situation merely as "Rand volatility", an effectively neutral term that doesn't convey "major, rapid downward slide" at all, it suggests an overall level value. There's also pretty much silence on the believed causes of all this, or else explanations are given that are obviously nonsense.
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The reason for the slide is obvious:

If you were an investor,would you invest in a country where you know they cannot guarantee electrical supply?
I do not think so.
Apart from all the other negative things happening, this is the single biggest reason.

Due to the idiotic decision to effectively kill the construction industry, more or less 750 000 people will lose their jobs.

Can you imagine what effect that has on an investor?
 
Captain Slog said:
He is ALWAYS whining about how kark SA is and that he wants to leave! Away to Perth with all the malcontents.
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He's a tax payer with legitimate complaints. Are you suggesting that some citizens be stripped of this right? Away to Zim with intolerant despots :rolleyes:.
 
fskmh said:
He's a tax payer with legitimate complaints. Are you suggesting that some citizens be stripped of this right? Away to Zim with intolerant despots :rolleyes:.
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hear hear! The squeeky wheel gets the grease.
 
Piepalook said:
I say we stay and irritate them!:D
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With you on that.
If guavamint behaves the way they do, then the gloves are off.
To hell with the ANC and its drive to attract investors - I will continue to make it ugly.
 
$ = R 8.05
£ = R 16.25
€ = R 12.38
Gold = $ 977.85
Oil = $ 102.13
Last update 07-Mar-2008 16:30:00

Hope it doesn't get any worse over the weekend. This is getting out of hand.
 
Piepalook said:
If you were an investor,would you invest in a country where you know they cannot guarantee electrical supply?
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Of course electricity is a big factor, but I also wonder if it's a bigger reason than the 'Zuma factor'. Maybe the two combined, so everyone wants to pull their money out. But I'm sure there are other reasons too.
 
It was an emerging market "slump" linked to a weak dollar I think. I dont reckon it was isolated in SA and therefore no SA specific reasons could have caused this.

When oil is no longer traded in US dollars we will certainly see a shift in supremacy amongst the world superpowers. The dollar is backed by its trading of it. Less trade of the dollar equates to a much weaker dollar. This issue might be compounded if commodities switch to the Euro too which might happen as a result of a much weaker dollar. US would be wise to invest in Euros and European and Asian long term notes.
 
DJStealth said:
It was an emerging market "slump" linked to a weak dollar I think. I dont reckon it was isolated in SA and therefore no SA specific reasons could have caused this.
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I don't believe for one minute that this contributed anything but a small amount to the Rand slide ... a little bit of research on e.g. x-rates.com quickly shows that the Rand is particularly stuffed by orders of magnitude compared to other emerging market currencies. Actually what's more worrying to me IS that we're being fed such flimsy "explanations".

The weakening dollar also does not explain it. The Rand historically more closely tracks the Euro, which is strengthening.
 
hj2k_x said:
$ = R 8.05
£ = R 16.25
€ = R 12.38
Gold = $ 977.85
Oil = $ 102.13
Last update 07-Mar-2008 16:30:00

Hope it doesn't get any worse over the weekend. This is getting out of hand.
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Rand is improving against the pound.
Rand is also below the R 8.00 to the dollar.
Dollar constant to Euro and Pound.
Looking up.
Better than last night.
 
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