The ZAR Exchange Rate Thread

Status
Not open for further replies.
Nefertiti said:
We working on R17 to the dollar for next year. The year thereafter R18 to the dollar. I hope that is sufficient. Its times like this I wish I had a little crystal ball.
Click to expand...

Forward cover?
 
SoulTax said:
Too conservative I would say. You need to be planning for much worse than that if it is to do with tight profit margins.
Click to expand...
Don't think so. I rate it'll stay at a very reasonable 16ish until the next rating review...then its going shoot to 20+.
 
SoulTax said:
Too conservative I would say. You need to be planning for much worse than that if it is to do with tight profit margins.
Click to expand...

JayM said:
Forward cover?
Click to expand...

We still in planning stages, so we'll review more options like forward cover when we get there. If we had to plan for the worst our plan might not get off the ground :(
 
We finalized budgets at 13.5 on purpose... Nice upside when bonuses are calculated based on rand growth ;)
 
MPC determines the repo rate, who knows what will happen, but the credit rating is the biggest concern.
 
Ockie said:
R/$ 15.1982

Is that right? From Nedbank site. This morning they said on the news it is over R15.60?
Click to expand...

Bank rates are always lower/higher, depending on the direction you are asking for. If you are buying Rands with Dollars, you will get less Rands than the current global XR states. So this is just the selling rate. My guess is that if you asked for the Rands into Dollars rate, it would be different in the oposite direction. IE an inverted R16.1(ish) for a single Dollar.
 
They pain of the currency devaluation has not been felt yet. When that happens, I don't want to be here for it.
 
Since yesterday its deteriorated. Bit of a farce, I had initially regretted pushing more USD at R15.06 that Monday after gordon was put in as finance kinister., but now it wasn't such a bad idea.

This year going to be so interesting, I wish I had a crystal ball, but my guesses are the MPC will increase rates which will confirm a recession by June, and then at least one rating agency will put us to junk status.

I personally think that even if the MPC keeps rates the same we will still have a recession this year. Taxes are going to def increase.
 
At this point I would not be surprised if 2017 starts with us at R25/$1 or worse.
 
Dave123 said:
X-rates as well, currently R15.79

http://www.x-rates.com/table/?from=ZAR&amount=1
Click to expand...

They quote a mid rate. You'll never actually transact at that rate. If you convert Rand into dollars at a commercial bank you'll pay R16.0773 for every US dollar (ie Sell Rate, TT). If you convert a US dollar to Rand (ie buy Rand), you'll get R15.5337. Here are FNB's rates, for example: https://www.fnb.co.za/rates/ForeignExchangeRates.html
 
Arthur said:
They quote a mid rate. You'll never actually transact at that rate. If you convert Rand into dollars at a commercial bank you'll pay R16.0773 for every US dollar (ie Sell Rate, TT). If you convert a US dollar to Rand (ie buy Rand), you'll get R15.5337. Here are FNB's rates, for example: https://www.fnb.co.za/rates/ForeignExchangeRates.html
Click to expand...

I realise that, it is generally the mid rate that people use to discuss the current rate, unless you want to start listing both buy and sell rates in every post? It's not something I've noticed anyone doing in the previous 74 pages of this thread ;).
 
Status
Not open for further replies.
Back
Top
Sign up to the MyBroadband newsletter
X