The ZAR Exchange Rate Thread

[krycor]

Exactly.

I'm getting a bit bored with everything always being blamed on Zuma/Government.

People are sounding just as bad as Zuma blaming everything on Apartheid and Colonialism.

Yip.. But here's the kicker.. As much as Zuma is not responsible for emerging economy issues.. He IS responsible for preparing & transforming our economy to better handle the current situation.

2ndly while exports etc has dried up, our internal consumption and infrastructure development could keep us going thru the tough bit but the inefficiencies and costs has made this less feasible.. All of which is strictly in the hands of gov.

All in all.. Rand slide is unavoidable but economy slipping is just pathetic planning and bad spending by gov. Job cuts etc all gov based

 

[JStrike]

Rand has held up surprisingly well. Bonds are looking very solid as well.
I would have expected more dramatic movement

 

[Kilgore_Trout_Redux]

So Zuma is responsible for the weakening of most emerging markets since 2011?

Brazil:

View attachment 279810

India:

View attachment 279820

Argentina:

View attachment 279822

It depresses the hell out of me when people hold up the currency cards of the three worst performing currencies in the world to show that we are on par with them and "It could be worse."

Christ, we deserve better than that.

South Africans seem to have started to be content with being among the worst at everything.

 

[cguy]

Yahoo says that the high this morning was R14.28 to the dollar???

 

[JayM]

Think it's cr*p now? Wait until we get a ratings downgrade. It's one way traffic from here.

 

[Spizz]

20.86 to gbp just now.

 

[cguy]

20.86 to gbp just now.

And 22.41 on open.

 

[Spizz]

And 22.41 on open.

Holy crapp. Euro at 15.25 as well. What's going on this morning? Zuma give a reassuring speech or something?

 

[Ockie]

Good god ... what happened to the Rand? Driving to work I heard we are well into R13 territory with the Dollar and also well into R20.00 to the Pound???!!! Seems we are heading for R14 and R21 now for those currencies!

 

[cguy]

Holy crapp. Euro at 15.25 as well. What's going on this morning? Zuma give a reassuring speech or something?

http://www.iol.co.za/business/markets/currencies/rand-sinks-as-commodities-tumble-1.1904379#.VdquvPlVhBc

 

[Tweakd Out]

I find it extremely funny whenever oil drops the dollar spikes...I might be wrong....

 

[xumwun]

I find it extremely funny whenever oil drops the dollar spikes...I might be wrong....View attachment 287152

It could be that the dollar is getting stronger.

 

[Garson007]

I find it extremely funny whenever oil drops the dollar spikes...I might be wrong....View attachment 287152

Could it be the other way around?

 

[R13...]

Good god ... what happened to the Rand? Driving to work I heard we are well into R13 territory with the Dollar and also well into R20.00 to the Pound???!!! Seems we are heading for R14 and R21 now for those currencies!

Emerging markets currencies are taking a beating and Asia looks bad this morning because of China, so with the dollar looking strong and China's weakness continuing you can expect the rand to continue down.

 

[Pitbull]

Good god ... what happened to the Rand? Driving to work I heard we are well into R13 territory with the Dollar and also well into R20.00 to the Pound???!!! Seems we are heading for R14 and R21 now for those currencies!

Purchased something over the weekend at R 13.40 give or take a few cents due to the charges to the Dollar.

This is just farking insane. If I knew that before the purchase I would not have bought it

 

[Spizz]

I bought 2000 gbp end of last week for R20/GBP1 exactly. Cost R40,000

Today it would have cost R41 475.

Thant's over a weekend ffs :wtf:

 

[JayM]

I bought 2000 gbp end of last week for R20/GBP1 exactly. Cost R40,000

Today it would have cost R41 475.

Thant's over a weekend ffs :wtf:

I have a GBP10K invoice to pay by end September. That equates to an extra 20 grand out of my pocket compared to the last one I paid 3 months ago.

 

[theratman]

I'm going to the States for a holiday in October and I was keeping a very close eye on the exchange rates and saw the rand slowly slipping. I managed to get my Hotels, car and internal flights booked at 11.80 (2 months ago irrc) and then bought a portion of spending money a few weeks back ($1500) at R13.00 incl commission. I'd have bought before but the 60 day foreign exchange rule prevented me from doing so. I'm glad I got alot out the way but I'm now looking at a trip that is going to be 10% more expensive than planned.

We planned the trip expecting the rand to be between 12.50 - 13 and basically said its going to get expensive if it hits 13+..
I'm now think of just going and getting the rest of my currency asap at around 13.50 incl commission even though I wanted to keep those funds on my card. Screw the bleeding rand..

 

[The_Traveller]

I'm going to the States for a holiday in October and I was keeping a very close eye on the exchange rates and saw the rand slowly slipping. I managed to get my Hotels, car and internal flights booked at 11.80 (2 months ago irrc) and then bought a portion of spending money a few weeks back ($1500) at R13.00 incl commission. I'd have bought before but the 60 day foreign exchange rule prevented me from doing so. I'm glad I got alot out the way but I'm now looking at a trip that is going to be 10% more expensive than planned.

We planned the trip expecting the rand to be between 12.50 - 13 and basically said its going to get expensive if it hits 13+..
I'm now think of just going and getting the rest of my currency asap at around 13.50 incl commission even though I wanted to keep those funds on my card. Screw the bleeding rand..

Same here, leaving 10th Sep for an entire month with my 5 dependants . Holy fvck it's going to be an expensive holiday.

 

[theratman]

Same here, leaving 10th Sep for an entire month with my 5 dependants . Holy fvck it's going to be an expensive holiday.

Ouch! Luckily its just me I'm paying for.