The ZAR Exchange Rate Thread

Status
Not open for further replies.
Weblord said:
I already started buying Dollars, in terms of ETNs on trading platforms from last year. I keep pushing as much as I can every month into it. The past year I was lucky to have invested R133k. Two day ago I added another R90k when the news broke.

I will keep adding money, whether the Rand falls or strengthen. I will not sell out and wait patiently. If I die, my attorneys must ensure the money stay there for my children. When the ETNs expire, it must be reinvested again.

The only reason I feel so strong about this, is the ANC. I do not really care if Zuma stays for ever or leave. I believe that the ANC has absolutely not a single person who will rescue South Africa and make a success of it. I strongly believe, at some point in time, South Africa will hit the Zim route 100%. I am sure that the Rand will pass the R300, R500, R800, R1000 mark against the dollar at some point. This is what I am waiting for. I want to be in that ride for when it happens.
Click to expand...
I assume you've already left the country then? No point sticking around if you believe what you said.
 
Weblord said:
I already started buying Dollars, in terms of ETNs on trading platforms from last year. I keep pushing as much as I can every month into it. The past year I was lucky to have invested R133k. Two day ago I added another R90k when the news broke.

I will keep adding money, whether the Rand falls or strengthen. I will not sell out and wait patiently. If I die, my attorneys must ensure the money stay there for my children. When the ETNs expire, it must be reinvested again.

The only reason I feel so strong about this, is the ANC. I do not really care if Zuma stays for ever or leave. I believe that the ANC has absolutely not a single person who will rescue South Africa and make a success of it. I strongly believe, at some point in time, South Africa will hit the Zim route 100%. I am sure that the Rand will pass the R300, R500, R800, R1000 mark against the dollar at some point. This is what I am waiting for. I want to be in that ride for when it happens.
Click to expand...
Lol, good luck with that. Lol!
 
Just tried to buy some currency and the dealing desk says that the Rand has just crashed to R13.80.
 
Jase said:
meh, you actually got me to stop what I was doing and open live rates to check ... :p
Click to expand...

Still hovering around R12.90... I'm sure she must have been looking at the wrong chart. This was the Nedbank dealing desk.
Gonna phone Merchant West rather.
 
akescpt said:
Which bank is the best for buying currency?
Click to expand...

It's really more about your relationship with the bank, your facilities and the volumes you purchase.
If you have good relations you can as close as two cents off the median.
 
Jase said:
I haven't been earning dollars for a year now :( Taxman is hitting me 'with' a big stick this year.
Click to expand...

Eina fork!

I thought you also earning Dollars on the mine up north. That is the worse, if only it was the SABC who one can just refuse to pay :D
 
If only... it seems to be stabilising now though. Bugger, just when I thought this was my chance.
 
I nearly cashed out at 13.10. Truth is anything can happen. If Zuma resigns I'll have to offload everything quick...

Let's wait for Monday.
 
Status
Not open for further replies.
Back
Top
Sign up to the MyBroadband newsletter
X