nakedpeanut
Expert Member
I'm willing to take that risk 
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Question of the Day: What is your ultimate pancake filling/topping?
The ZAR Exchange Rate Thread
- Thread starter Robin Hood
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DreamKing
Honorary Master
LazyLion
King of de Jungle
still going down.
LazyLion
King of de Jungle
which are offset by companies that do imports... like ours for example. So yeah... no real significant harm done.
When the exchange rate is favourable we do huge purchases to take advantage of it... thus allowing us to keep our South African prices low.
DreamKing
Honorary Master
The_Assimilator
Executive Member
USD for import
EUR for export
we need weak USD but stable EUR => win win.
The weaker the USD gets, the cheaper computer parts get, and the happier I get.
LazyLion
King of de Jungle
The dollar continues to weaken... it dipped below R6.99 at one point. but it is sitting at R7.01 right now!
http://www.xe.com/
http://www.xe.com/
This isn't exactly true the strong rand affects the South African economy badly - http://www.fin24.com/Markets/JSE/Strong-rand-weighs-on-JSE-20100922
A country like SA exports more than it imports especially to the US - so it doesn't off-set the loss in the economy and even if it did it would be in a different sector.
A stable rand is what would be best.
VioAdmin
Expert Member
NOO we need the exchange rates to be about $1 USD=R9!!!
This is bad for my business. I rely on the US currency heavely right now. In about a years time I will have half of my business in Pound/Euro just incase such things happen! Damnit! Weaken that damn Rand!!!!
This is bad for my business. I rely on the US currency heavely right now. In about a years time I will have half of my business in Pound/Euro just incase such things happen! Damnit! Weaken that damn Rand!!!!
BBSA
Honorary Master
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NOO we need the exchange rates to be about $1 USD=R9!!!
and we all must pay more for petrol?
VioAdmin
Expert Member
Ah its a selfish request I know lol but that is the currency I have 90% of my **** in. The government is not even lowering the petrol prices to match...so heck, I might as well get what I want
I have a feeling by December the dollar should be at least back to 7.5 ish, so says some "elite economist"...probz bs but here is to hoping. ****.
LazyLion
King of de Jungle
How is it not true? Are you calling me a liar?
Our company relies on a favourable exchange rate. If you don't believe me come and look at our books.
You will see that we have been faithful to pass on those savings to our customers.
We must be one of the few companies that lowers our prices when the rate becomes more favourable.
And food.
the graduate
Senior Member
well the rand can roll on to the R3=US$1 level....I don't care....a stronger rand is better for the economy. Sure, the exporters will take a bit of a hit, but to be globally competative, you don't need the Chinese model (to be cheaper than everone one else using cheap labour and inferior parts at times) to make a profit. Numerous studies have shown that the quality of one's product is the determining factor and not pricing. If you want Dynaudios (made in Denmark), you'll buy Dynaudios, not matter the cost. You can always get DynaAudionics from China that look the same and sound very much the same.
A stronger currency has more benefits for us even if the importers of our products have to fork out more for a quality product.
Funny thing though is those old guys talking about a strong economy when the Apartheid government was running the show "when the rand was EQUAL to the dollar., Look at the poor rand now, we are become the next Zim". Now, most of these 'expert' economists are calling for something to be done about the strength of the rand. This is ludacrous as it is well known that their 'offshore investments' will yield less RANDS now (or whenever the shareholders meet), which could stuff up their bonuses.....good bye M3....stronger rand = lower fuel price = lower food prices...
A stronger currency has more benefits for us even if the importers of our products have to fork out more for a quality product.
Funny thing though is those old guys talking about a strong economy when the Apartheid government was running the show "when the rand was EQUAL to the dollar., Look at the poor rand now, we are become the next Zim". Now, most of these 'expert' economists are calling for something to be done about the strength of the rand. This is ludacrous as it is well known that their 'offshore investments' will yield less RANDS now (or whenever the shareholders meet), which could stuff up their bonuses.....good bye M3....stronger rand = lower fuel price = lower food prices...
The Americans owe billions of dollars to China, now that is not in euro or gold , all the yanks must now do is to let their currency devalue with out making it obvious, eventually the amount they owe is minimal in real value. They can now pay China back by selling gold reserves which will have increased in value relative to the dollar, China gets their money back in dollars which will be worth quarter of the value when they loaned the amount to the yanks. America did it before and they will do it again.
killadoob
Honorary Master
What do you guys sell?
LazyLion
King of de Jungle
hot and cold stamping foil used in printing and packaging design, coding and security marking. All of it is imported as none of it is manufactured in South Africa.
LazyLion
King of de Jungle
Went down to 6.92 at one point today... currently at 6.95!
Nothxkbi
Banned
A bit OT but noticed rand/pound is now on 11.01
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