Rand exchange rate

[IanF]

In my crystal ball, the milestone for the exchange rate will be next years confederations cup. If we can pull that off without a fiasco that will change the the sentiment towards us. This assuming our politics don't suffer from foot in mouth before then.

[Dave A]

Better not to drop the interest rate now. Crazy as it may seem, but we need foreign investment BADLY and dropping rates will just chase potential investors away

Holding the rate certainly steadied the Rand ship for now. But it's also suppressing the local economy.

Which is more important?

[Dave A]

I'm still rubbing my eyes in disbelief. WTF happened to our exchange rates yesterday, or was it last night?

[Graeme]

Could be the same thing that is trashing the New Zealand exchange rate - Northern hemisphere investors repatriating their capital.

[Dave A]

Some big overnight orders. Whoever it is, it looks like they're prepared to take a pasting.

[Wolf]

And I get fully hit by the weak rand. After fighting for half a year to get the business finance I am so frustrated because the exchange rate is eating my budget up.

I wanted to make the payment 4 weeks ago already (british pounds) when everything was still perfect for me, but things are so slow and I wasn't able to because of import licenses and all this ****. Now I have to make the payment within the next 2 weeks and all I can do I just hope and pray to get better. It costs me 50.000 Rand more to buy the stock, which means I have 50 grand less for marketing. It is so frustrating

[Dave A]

Hopefully it will all be worth it in the end, Exopacific.

Here is the cause of your pain:

The flight to safety from both established and emerging markets saw R20-billion withdrawn from South Africa in September, according to Reserve Bank figures.

Figures for October are not available, last week foreigners were net sellers of equities to the value of R9,6-billion.
full story from M&G here

Ouch!

And let's remember the Rand held fairly well for most of September. October's numbers are going to be ugly

[daveob]

It's CHRISTMAS !!!!



Here's a screenshot of the Exchange Rate this morning from http://www.fin24.com/markets/Main.aspx#currencies

[Dave A]

Looks like Christmas is over already. Showing 10.06 now.

[Wolf]

Hopefully it will all be worth it in the end, Exopacific.

Here is the cause of your pain:

Ouch!

And let's remember the Rand held fairly well for most of September. October's numbers are going to be ugly

That's really bad. I hope the shock will be over soon and the rand will recover quickly, at least a bit, PLEASE!!