The ZAR Exchange Rate Thread

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Reckon the Rand hasn't fallen as much as expected because a lot of people got burned during the Des Van Rooyen incident. They didn't expect that Zuma would be forced into such a rapid reversal so they were caught short when the Rand reversed trajectories. So the only reason it hasn't dumped yet is people waiting to see what happens over the next few days. Pretty sure though that if the status quo hasn't changed materially next week and the ratings agencies start taking action and the new finance minister starts public appearances inevitably putting his foot in his mouth it will all be rapidly downhill from there.
 
And even with all of this FNB only gave me R12.95 to the $. I wish Paypal would hurry up and implement withdrawing to card. It's been months since they made the Marstercard announcement.
 
OT but on the subject of errors, found this

k2s error.jpg
 
Rand has lost over 1.6% this morning. Starting to dive pretty quickly now. I guess now that the world has seen that the new FM doesn't care about ratings agencies, and wants to push through nuclear and other policies to bankrupt the economy, downgrades and worse are on the horizon, taking the Rand with it. Emerging markets still have a positive spin at the moment though, and seems investors are willing to go with the more risky investments, but should that die down, the Rand will be in trouble.
 
Praemon said:
Rand has lost over 1.6% this morning. Starting to dive pretty quickly now. I guess now that the world has seen that the new FM doesn't care about ratings agencies, and wants to push through nuclear and other policies to bankrupt the economy, downgrades and worse are on the horizon, taking the Rand with it. Emerging markets still have a positive spin at the moment though, and seems investors are willing to go with the more risky investments, but should that die down, the Rand will be in trouble.
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https://mybroadband.co.za/vb/showth...not-signed-by-new-finance-minister-–-Treasury

Investors don't know who to believe anymore.
images.jpg
 
Sadly, I think the Rand falling will be the only way to get Zuma/ANC out. When their core voter base cannot afford pap any more once it's ten thousand Rand for a 10KG bag, they'll start noticing something is really ****ed up. They don't know/care about investor relations, or whether we look good or bad to the international community, but stuff like this will hit them directly - and maybe then they'll start querying what's really going on, or at least try to change what's going on, even if they don't know what it reall is.
 
Ho3n3r said:
Sadly, I think the Rand falling will be the only way to get Zuma/ANC out. When their core voter base cannot afford pap any more once it's ten thousand Rand for a 10KG bag, they'll start noticing something is really ****ed up. They don't know/care about investor relations, or whether we look good or bad to the international community, but stuff like this will hit them directly - and maybe then they'll start querying what's really going on, or at least try to change what's going on, even if they don't know what it reall is.
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They will go sit under a tree and wait for a UN truck to deliver free maize.... :whistle:
 
Ho3n3r said:
Sadly, I think the Rand falling will be the only way to get Zuma/ANC out. When their core voter base cannot afford pap any more once it's ten thousand Rand for a 10KG bag, they'll start noticing something is really ****ed up. They don't know/care about investor relations, or whether we look good or bad to the international community, but stuff like this will hit them directly - and maybe then they'll start querying what's really going on, or at least try to change what's going on, even if they don't know what it reall is.
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That doesn't seem to have worked in Zim... ;)
 
Ho3n3r said:
Would've worked a long time ago if their voting wasn't so deeply rigged.
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You have a point, that would leave you having to hope that the ANC aren't making plans for future elections to have similar rigging. What will they do if they ever feel threatened?
 
Ho3n3r said:
Would've worked a long time ago if their voting wasn't so deeply rigged.
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You think the same would not happen here? After the last election results watch 2019 and the expanded bus parades that would bloom into existence.

I also fear there will be a shortage of chickens during 2020/2021.
 
Rand is in free-fall. Almost certain it will break R14 tonight or tomorrow morning, then who knows where it could end up. I nearly sold USD for Rands today, but there was a delay at the bank. Guess that worked out :/
 
Do I just go to my banks foreign exchange to get money for my trip. Should have done it last week already
 
akescpt said:
Do I just go to my banks foreign exchange to get money for my trip. Should have done it last week already
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Seriously? This was not the time to be dawdling, especially when the rand was doing so well recently. Should have done it weeks ago.
 
Ho3n3r said:
When their core voter base cannot afford pap any more once it's ten thousand Rand for a 10KG bag, they'll start noticing something is really ****ed up.
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My concern is that the only thing they'll notice is that you have more than them, and so they'll come after you and take it all away.
 
Arthur said:
My concern is that the only thing they'll notice is that you have more than them, and so they'll come after you and take it all away.
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Been happening already for a long time but now will become even worse.
 
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