The ZAR Exchange Rate Thread

Status
Not open for further replies.
I've only bought shares with spare change (all I could afford), not much so not bothered either way.
 
**** me. Petrol price is going to go in dry next month.
 
Sinbad said:
**** me. Petrol price is going to go in dry next month.
Click to expand...

We manufacture aluminium windows. Aluminium is priced in $'s. I wouldn't be surprised to see at least a 15% increase notice within days. This will be just great in an already difficult trading environment.
 
saturnz said:
Are you short because everything is up
Click to expand...
Other way round.

Day of trade everything was down on US exchanges. So I hit everything I could hard. The 150k was excess cash that wasn't technically settled yet so per US rules I can't buy equity with it. Broker allows FX transfers on unsettled cash though & it happened to be mini budget day so decided to play that drop via FX transfer & hope for a bounce towards mean.
 
Adrianax said:
JSE and investments are not a good bet in South Africa.
Click to expand...
It's just cash, not investments. I'll move it back out when it makes a profit / I've had enough of the Rand shenanigans.

cerebus said:
One thing I've learned over the past couple of years is, I will NEVER bet on the direction of the Rand.
Click to expand...
Haha. Indeed. It moved by exactly the amount predicted...in the opposite direction I predicted. :o

Cius said:
Forex trading on the rand takes a brave brave man.
Click to expand...
Indeed. Calling this forex trading is a bit of a stretch - it's just excess cash I moved over temporarily. Not stupid/brave enough to attempt true leveraged FX trading. :o
 
I think we heading to junk and rand picking up at least R2-4/$ by feb regardless of what happens with the ANC. The mini budget was that bad with zero indication of spending cuts so..
 
HavocXphere said:
So far yes. Patience.

My entire portfolio is blood red at the moment anyway so can just add this to the list
Click to expand...

Most of my local stuff is in the red. My international is doing fairly well in ZAR terms, at least. Leaning towards taking more offshore.
 
Messugga said:
Most of my local stuff is in the red. My international is doing fairly well in ZAR terms, at least. Leaning towards taking more offshore.
Click to expand...

The rand is actually strengthening slightly the past couple of days, I guess maybe due to the whole Trump story? No idea why really but it was up to 14.25 or so and it's now at 14.03.
 
Messugga said:
Most of my local stuff is in the red. My international is doing fairly well in ZAR terms, at least. Leaning towards taking more offshore.
Click to expand...
Do it...I'm kinda surprised it's holding steady where it is. Jumped to 14.10 and held steady there despite Moody's releasing a statement on Monday (i.e. after the initial minibudget spike) that things are not looking good. So come 27th nov I'm expecting a downgrade. Hence me selling the above position at a loss.

Then again...what do I know...just lost like 250 zar on this (mostly due to the stupidly large spread)

cerebus said:
The rand is actually strengthening slightly the past couple of days, I guess maybe due to the whole Trump story? No idea why really but it was up to 14.25 or so and it's now at 14.03.
Click to expand...
Looks pretty random to me tbh. Anyway discovered how to do multiple currencies. USD GBP and EUR vs ZAR:

ZAR.jpg
 
The Rand is doing just fine. Have faith people, have faith. In a decade or two you'll all be millionaires.
 
cerebus said:
The rand is actually strengthening slightly the past couple of days, I guess maybe due to the whole Trump story? No idea why really but it was up to 14.25 or so and it's now at 14.03.
Click to expand...

Trump, terrorist attack (minor but still), resources and gold still favoured for now pushing up sales due to rand weakness etc.

Junk status is inevitable presently (irrespective of dec ANC elections) the only thing that can save it is a drastic reduction in gov spending on labour and fruitless & wasteful expenditure combined with a VAT increase along with subdued inflation/bracket creep tax increases. i.e. there is little money to go around.

But hey, you never know.. Trump and NK can start a war and boom, resources & gold are the new hotness again.
 
krycor said:
, resources & gold are the new hotness again.
Click to expand...
Yeah def looking at parking money in resources - stock market is feeling top heavily and stuff like platinum is super low. So planning to gradually move money over into safer territory.
 
FlashSA said:
Murica problems?

Can't see anything positive our side to make the Rand strengthen
Click to expand...

Yeah I just think it's normal market fluctuations. It's definitely weakened around ~R1 and I don't think it's gonna go back to the 13.2 mark it was at a few weeks ago, unless something unexpected happens.
 
Status
Not open for further replies.
Back
Top
Sign up to the MyBroadband newsletter
X