The ZAR Exchange Rate Thread

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rvZA said:
Probably not long before the US economy collapses
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Extremely doubtful.
rvZA said:
and the oil and gold price decoupled from the Dollar.
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Neither is coupled, both are related, the US is the largest importer of oil, and people buy gold as a safe haven when the dollar's outlook isn't great.
rvZA said:
If the Biden admin and democrats retain government in 2024, likely in the next 10 or so years.
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As usual you have no clue what you're talking about. This is also the wrong thread for this discussion.
 
MirageF1 said:
Someone please explain, surely there is/was money to be made in FX conversion if $/R is at its highest in a long while, and yet £/R was at its lowest in a week ( down nearly 6% as of early this am, yes it's strengthened since but still considerably weaker ..)

i.e buy more £s for your R, and get more $ for your £s ! Some traders have probably taken advantage of this and made a nice quick profit over the weekend...
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You're missing the crucial third leg, $/£. That should have adjusted accordingly too.
 
Speedster said:
You're missing the crucial third leg, $/£. That should have adjusted accordingly too.
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Where exactly, there's only 2 conversions required.

I wrote earlier:
i.e buy more £s for your R, and buy/get more $ for your £s !

I haven't looked at the exact movements, but unless the £ had weakened by nearly 6% to the dollar by this morning, you would have come out with more $s for your R via a £ conversion first, than buying $s directly with your Rs.
 
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Speedster said:
Maybe give us an example of how you want to make money through this?
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You replied before I had edited my last message.

I haven't looked at the exact movements, but unless the £ had weakened by nearly 6% to the dollar by this morning, you would have come out with more $s for your R via a £ conversion first, than buying $s directly with your Rs.

A cursory check at XE rates at around 5am this morning seem to indicate that whatever gains you would have gotten by buying £s with your Rs would have been negated by the weakening of the £ to dollar.

I'll do a sample calculation later to confirm.
I'm not a FX trader, hence why I asked my initial question earlier.
 
MirageF1 said:
Rands getting hammered badly, currently trading at 20.70 to £ and 18.24 to US$.

Also the £ recovered 2.3% against $ today!

View attachment 1400161
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The British Pound was on Wednesday close to reclaiming overnight losses that followed comments from Bank of England governor Andrew Bailey that support for UK pension firms and long-term gilt markets would be withdrawn on Friday.
Bailey said in Washington that the rebalancing undertaken by pension funds must be done, "and my message to the funds involved and all the firms involved managing those funds: you've got three days left now. You've got to get this done."
The Pound dropped by over a percent in the hour following the comments.

Pound Undaunted by Bailey's 'Cliff Edge' Comments

www.poundsterlinglive.com www.poundsterlinglive.com
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Expect the pound to remain volatile for a little bit longer.
I'm still expecting the EUR to regain quite a bit of value towards year end once people realize that the gas crisis is not going to be as huge as expected since quite a bit of preparations were completed there.
 
Going to keep on getting worse and there is nothing we can do about it.

This is all about the USD strengthening in the midst of this coming global recession.
 
Heading for 21 to £ :rolleyes:
No turning back.

It's the beginning of the real end for the R.

Screenshot_20221025_134220_com.xe.currency.jpg
 
rvZA said:
Probably not long before the US economy collapses and the oil and gold price decoupled from the Dollar. If the Biden admin and democrats retain government in 2024, likely in the next 10 or so years.
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You sound like my grandma. Always preaching the end of times is near
 
surface said:
Everything is gonna collapse one day.

View attachment 1408447
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Well.... we are getting way, way less electricity and water at a much, much higher rate now compared to 1994. At least there is that. Been a downhill ride since then and no signs of any improvements. Surely anyone can guess what's about to happen....
 
rvZA said:
Well.... we are getting way, way less electricity and water at a much, much higher rate now compared to 1994. At least there is that. Been a downhill ride since then and no signs of any improvements. Surely anyone can guess what's about to happen....
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You should get out more.

And/or please consider to change your nickname to "the prophet of doom"
 
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