Hoping it dips below 20 to the Stirling by early next year.
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The ZAR Exchange Rate Thread
- Thread starter Robin Hood
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Hoping it dips below 20 to the Stirling by early next year.
I stopped playing the waiting game.
See my post above.
I transfer funds whenever rate strengthens considerably, that way I bank at least along the way, instead of missing a good rate due to inaction and then it sky rockets again which it always has/will do over the medium long term.
I assume you are referring to this https://getshyft.co.za/
Any idea what the tax implications are? Or is this one of those I should talk to my financial adviser about?
I somehow think that there was a brief discussion about this in my last consultation. Just not 100% sure that this was the thing.
No
The limit though is your yearly SARS discretionary allowance of R1 million. However, no need to do anything, it's all calculated for you and each transaction passed between SARS/your bank prior to any currency purchase.
Exactly same concept as SWIFT or any other international money purchase/ txfer.
No tax implications. You already paid tax I assume on your money/capital.
The limit though is your yearly SARS discretionary allowance of R1 million. However, no need to do anything, it's all calculated for you and each transaction passed between SARS/your bank prior to any currency purchase.
Exactly same concept as SWIFT or any other international money purchase/ txfer.
Exactly what I do, every time it takes a dip I send monies off. I did go a bit much on the last one but it’s the long term average that counts in my head.
R10m already?
And then you get headlines like, Government considering reimposing several lockdown restrictions, and you know its time to move some ZAR!
Busy working on moving money from my investment accounts into my FX account...
Messugga
Honorary Master
Discretionary allowance is R1m. The R10m is a schlep to get cleared, but something I'm probably looking at doing now.
agentrfr
Executive Member
Roblox level oof incoming - we should know by about 8AM tomorrow
RogueTr00per
Honorary Master
Please translate for us noobs
, what does this mean?
agentrfr
Executive Member
If chikoo breaks top of cloud and stays above price, then we are on the way upPlease translate for us noobs, what does this mean?
which it did :\
Likely 15.85 until we will be able to turn around and go down again (maybe even 16.18)
or trump starts a (civil) war
RogueTr00per
Honorary Master
We're hovering around 15.40 today I see... the low was 15.38 at 11h05am.
I wonder how far we'll drop though. Hopefully can stay under R16/$.
Surely it was priced in on Friday...
Seems like it. Generally when they say "it's priced in" it still wobbles big time on negative news. But it's also possible the main driving force at the moment is international sentiment with hopes on a COVID vaccine opening up economies overriding the state of things locally. Glad I'm not a currency trader - it's so unpredictable
Downgrades within the same grade is usually less traumatic. The last one was the major one as it pushed SA outside indexes which forced investors to dump SA Inc.Seems like it. Generally when they say "it's priced in" it still wobbles big time on negative news. But it's also possible the main driving force at the moment is international sentiment with hopes on a COVID vaccine opening up economies overriding the state of things locally. Glad I'm not a currency trader - it's so unpredictable
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