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My Dubai trip

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jamoo
Frequent Contributor
Hi there, can anyone help on the future of the dollar-rand in the short term? i need to take family to Dubai in December and will require Dollars for shopping. should i start buying now or will there be further strengthening of the rand? help!
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10 REPLIES 10
Ninja
Super Contributor
consensus is rand at 9 to the $.....will almost certainly continue to weaken over the next few months....
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ACEP_
Regular Contributor
hope u buy a crystal ball!
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jamoo
Frequent Contributor
yeah, a crystal ball will certainly solve my dilemma. thanks
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Whatsup
Contributor
Not too sure if the rules have changed, however if you wanted to buy forex legally being part of your travel allowance you could not buy longer than six weeks befor departing on your trip, also conditional on the presentating of your air ticket. Perhaps the fundies could advise if this has changed?
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SimonPB
Valued Contributor
you can use CF's to hedge in advance of the trip .. as for the direction, everybody always bearish on the Rand, and they been wrong for most of the last 8 years ..
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SimonPB
Valued Contributor
the reality is look at the flows .. foreigners buying emerging markets including SA .. that means money has to flow into SA, and that strengthens the rand .. so as long as they buying more then selling ..
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Whatsup
Contributor
Excuse the ignorance Simon what are CF's?
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SimonPB
Valued Contributor
currency futures ..
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jamoo
Frequent Contributor
thanks Simon. i have been considering CFs but not sure of which direction to place my bet on. i am rather bearish on the short but bullish on the long term. very confusing!
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Not applicable
Amen to that. About 2 months ago your good friend Joe Meyer predicted on fin24 how the rand would drop like a stone through R15, and instead it went all the way beyond R7. The moment people draw fibo retracements on a chart, they think they can see the future. See http://www.fin24.com/articles/default/display_article.aspx?Channel=Trading_Technical-Analysis&Articl...
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