ZAR taking a dump...

[Hotclutch]

Interest rates were left unchanged today, suspect that's the main reason for the subsequent weakening.

 

[M3turbo]

Gill Marcus not extending her contract - creating uncertainty...

 

[tcal69]

:argh::argh::argh:

 

[MaX]

Picking up some pace now... was R10.93 again yesterday, pooped all the way down to R11.08 :roflol::roflol::roflol:

 

[maximus]

10YR trend ZAR vs US$

 

[GGM]

Picking up some pace now... was R10.93 again yesterday, pooped all the way down to R11.08 :roflol::roflol::roflol:

back at R11.09 :thumbs:

 

[maximus]

R11.12 @ 2014-09-22 12:39 UTC

 

[Clownshoe]

:rollsmile:

Sorry...

But sometimes working in sht holes pays off.

Having said that locate the day the rand was at its strongest in the last 15 years... that was the day the transfer lawyers said pay for the house or you loose it and pay penalties. I had been waiting for a month to transfer the money from offshore. Hoping for a turn. It turned the day after the transfer. Wiped out almost half the value of the dollars I had.

 

[Scouse]

I know its bad in many ways in general
But damn do i smile at the end of each month, especially cos im paid in USD :rollsmile:

 

[moranor@axis]

actually I congratulate you guys that are earning abroad on bringing money into SA I feel you are our only hope in turning things around

 

[maximus]

Sooo who earns GBP here? :fencelook: :rollsmile:

 

[maximus]

11.15 today

 

[Chavoos]

Sent from my iPhone using Tapatalk

 

[MikeR]

11.15 today

:argh::argh::argh::argh:

 

[MaX]

11.17 already :roflol::roflol::roflol: 07h41

 

[ChefDJ]

Exporters are smiling all the way.

 

[maximus]

http://m.ft.com/cms/s/0/45c617e0-440e-11e4-baa7-00144feabdc0.html

 

[GGM]

just found a spreadsheet with some info .
anyone wants it , i can email to them .

dont mind posting here but its 8000 lines of day to day rates of usd/zar

basically :

1970 it was .75c/usd
1975 , 67c/usd
1982 R1/usd
1985 R2/usd
1992 R3/usd
1996 R4/usd
1998 R5/usd
1998 R6/usd
2000 R7/usd
2001 R8/usd
2001 R9/usd -oct
2001 R10.34/usd -nov
2001 R10.94/usd - dec :bangdesk:
2001 R11.13/usd - dec :bangdesk:
2001 R12.50/usd - dec :bangdesk:
2001 R13.00/usd - dec :bangdesk:
2002 R9/usd
2003 R8/usd
2003 R7/usd
2003 R6.20/usd
2005 R5.99/usd
2006 R7/usd
2008 R8/usd

these are just some of the rates on the sheet , but interesting to see where we've come from , not sure WTF happened in dec 2001.

 

[Crash_Nemesis]

Rumors of Osama bin Laden having family in South Africa surfaced around then... Not sure if that pulled investors or not. Could be a reason. Stranger things have happened in life.

 

[Peter@AEW]

Rumors of Osama bin Laden having family in South Africa surfaced around then... Not sure if that pulled investors or not. Could be a reason. Stranger things have happened in life.

Nothing to do with Obama and everything to do with the country's NOFP which had been created by the crisis of 1996 and 1998 when the SARB had intervened to stabilise the ZAR against the USD and effectively borrowed some USD 24 Billion in the forward market.

In late 2001 the SARB took a policy decision not to support the ZAR and equally announced a tightening of exchange controls which took liquidity out the market....etc etc etc.