ZAR/USD exchange

[eben]

The £ is getting an asswhipping....

[Tony Z]

what are the chances that "somewhere out there beneath the pale moonlight is someone one" reading our comments about the savages and we are doing our own little bit to influence the dropping of the Rand?

[Blitzkrieg]

what are the chances that "somewhere out there beneath the pale moonlight is someone one" reading our comments about the savages and we are doing our own little bit to influence the dropping of the Rand?

*Blitz topples off chair laughing*

[Chris]

The £ is getting an asswhipping....

The rand is also walking around with a bloody nose.

[eben]

These graphs are getting very interesting:
Look how the $ recovered and is now tracking closely with the Euro while the £ is taking a pounding....

[fleetline15]

I HEARD THAT THE jAPANESE MONEY MARKET HAS HAD A "Deregulation" about 3 months ago and that they are now unrestricted by what currencies they can buy and sell. before this they were only able to trade in a few currencies . This new environment has had a big effect on many currencies over the last few months. Dont know was just told this? PM

[Ron&Gill]

Looks to me like it's only the USD getting stronger... Everything else is tracking fine. Good for me of course, I get paid in Greenback. Hoohaa!

[Chris]

The rand is getting stronger and stronger.And there seems to be no real reason why. They say it's because of investment oppertunities(?).

You would think that people would think twice about investing money here seeing that our corrupt gov officials are getting away with fraud,corruption,handouts,backhands,Hansies,"loans",rape or was it concential(?),blank cheques and general thieving.

Shower Head, Chaleti Selebi,Gorduin de Bruin,Allan Balsak,Kebble,NoHouse and the TravelGate Brigade,I-fly-for-Diamonds Winnie,Yengeni Secondhand Mercs and the rest.

[eben]

You forgot poaching:
http://www.dieburger.com/Stories/News/1 ... 29903.aspx

[karmakoma]

And you forget that everyone knows sooner or later things will start getting back on track, and then, what will the world need, commodities! Take a look at how much the oil price has gone up again the last month or two. Remember that we have commodities, and strong trade ties with China, who needs a lot of commodities. Their economy has only slowed in growth, not gone into recession, so dont be surprised if the rand strengthens some more in the short term.

This is not good news for everyone though, as it limits exports even more, great for us against BUS exports, but terrible for the already under pressure manufacturing (especially auto industry) sectors. Government wants a weak rand in the short term, to prop up these sectors, but money is flowing into the country at a huge rate. Strengthening the rand.

Just look how small the trade deficit was last month! Usually when we lower interest rates, the rand goes down along with it, has not happened this time round, showing how big the influx of foreign capital was. Then there is also the vodacom listing, several billion rands coming in from vodafone in the UK, also narrowing that trade deficit gap.

I am no economist, but dont be surprised if uncle Tito cuts rates by another couple of percentage points in the coming months to try and combat a too strong rand. Nothing to do with saving mr and mrs sa public. Anything can always happen, especially these days, but imagine if the election goes smoothly, and the ANC loses a noticeable slice of power, what happens to the rand then?

[Chris]

Couple of very good points there Karma.I was speaking to some the workers at the already battered GM in PE.The strong rand could not have happened at a worse time.

Their sales are dropping off fast and their exports are dismall to say the least.The holding yards are empty.For GM in the USA I have no sympathy,and neither do I for some of the management in PE.But the workers of GMSA are getting the short end of the stick if you compare their salaries to GMUSA.

But I digress.There are pros and cons to both sides.But at the moment,we need a weaker rand.

[dsan]

I need the rand to drop against the dollar and the pound as i get paid in both. Yah it sucks for you lot, but i pray to buddha every night he helps me out...

[Tony Z]

I am with you on that one.... I get paid in dollars and each month is worse than the last.
Dont worry, I am still grateful that I have a job and an income.... but why cant I be greedy?

[Tony Z]

anyone with any forcasts for the new year?

[Chris]

I reckon the rand might hit around eight.