The ZAR Exchange Rate Thread

[Gtx Gaming]

14.2973 ,looking better!

 

[Hamish McPanji]

My Rand Dollar savings spread is about 75:25 . Maybe now a good time to even it out

 

[Scooby_Doo]

14.17... But why?

 

[Vrotappel]

Rand hits five-month high against dollar after ruling against Zuma

“The currency seems exceptionally sensitive to the political situation. We have seen that broad reaction in December with the change of the finance ministers, we saw that reaction which was swift,” Global Trader head of trading Nilan Morar said.

No **** Sherlock.

 

[Ockie]

Rand hits five-month high against dollar after ruling against Zuma


No **** Sherlock.

ANC will say it is not related and the Rand was already strengthening before the ruling.

 

[Ho3n3r]

Fallen 50 cents to the Dollar in 24 hours.

 

[Praemon]

Fallen 50 cents to the Dollar in 24 hours.

Yeah, nose diving at the moment. I think it will settle around 15.20/15.40 until the ratings downgrade, at which point it will push to over 16. Hopefully it will eventually recover from that, but might take a while.

 

[mountainboy]

I get sea sick just watching the Rand

 

[NarrowBandFtw]

Source: Assume brace position: SARB warns “junk” status coming, how it will hurt us

When even the SARB says junk status is all but guaranteed we're in for a rough ride ...

 

[d0b33]

We had some breathing space.. maybe it's a warning for investors to get their money out because it's only downhill from here...

 

[R13...]

So Moodys decided to keep SA two notches above junk instead of downgrading to bring in line with the other two agencies

 

[Jase]

And yo-yo back down to R14.86...

 

[sox63]

So Moodys decided to keep SA two notches above junk instead of downgrading to bring in line with the other two agencies

One down, two to go.

 

[xumwun]

So Moodys decided to keep SA two notches above junk instead of downgrading to bring in line with the other two agencies

Changed outlook to negative though.

 

[R13...]

One down, two to go.

Are the S&P and Fitch reviews in June?

 

[sox63]

Are the S&P and Fitch reviews in June?

Yep, I think so. Looks like we are heading for a split opinion situation with the ratings agencies. Right now 1 out of the three maintains we are investment grade and is adopting a wait and see stance, if one of the other two does the same that will be two of three with the non junk status grading. What I want to know is if that happens and only one agency downgrades us, what are the institutional investors obliged to do? Does a majority opinion count or even if one agency says we're junk, they have to stop investing?

 

[airborne]

Isn't a downgrade to junk status a self-fulfilling prophecy, down grade to junk, which automatically makes investors bail/lending costs skyrocket and the economy is junked, job done - you see our prediction was accurate!? No shirt sherlock

 

[Lupus]

Now with the dollar strengthening the gains we had over the last couple of weeks are all gone. It was nice while it lasted under R15

 

[johnjm]

Are there still people who believe that it will recover to pre nenegate levels? Lol

 

[reactor_sa]

Took a solid beating yesterday it did