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ouch the Rand

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SimonPB
Valued Contributor
almost hitting 18, now 16.72
23 REPLIES 23
THRESHOLD
Super Contributor
And nowhere to hide - the stock market looks shocking. Still - at least quality offshore exposure should come back in dollar terms over time. The Rand, I fear, is toast!
THRESHOLD
Super Contributor
We actually went through 18 to the EURO.
koos2
Super Contributor
close yer eyes und think of england
koos2
Super Contributor
That what i said this morning when changing ze nappy of me second born.
Not applicable
This is getting really scary. Not only the fact that it has depreciated that much already, but also the rate at which this is happening is frightening.
THRESHOLD
Super Contributor
All of the political hostility we see out there is, no doubt,largely driven by the economic environment. As the Rand slides away there is going to be more and more social stress. This may all resolve into the revolution that this country avoided. If that happens - the Rand will simply disintegrate...
koos2
Super Contributor
did you just turn into a prepper? Anyhoo, just dont get caught in crowds und you should be fine.
THRESHOLD
Super Contributor
Always been a "prepper". Just so difficult letting go..
kwagga
Super Contributor
If you hate gold, then sorry for you. Better wait this one out.
Not applicable
why are you guys so scared of a weak rand? It is our economy's saving grace. If it was coupled with a high oil price, then I would be scared. But it has put SA into trade surplus - with exports exceeding imports. I fail to see how that can be negative? Put the ZAR at $17 and oil at $100 a barrel - then we have cause for concern.
kwagga
Super Contributor
Because ZAR*(Grain imports + Maize imports)=Social unrest.
THRESHOLD
Super Contributor
It is just a buffer. It is reducing the pain in the commodity counters. We have nothing to export and we cannot attract capital to establish industry due to the hostile environment. Add to this that we are in a sever drought and need to import our food and pay for out burgeoning civil service and social grants bill. Here's an interesting read: http://www.economist.com/news/finance-and-economics/21685489-big-currency-devaluations-are-not-boost...
kwagga
Super Contributor
...and who do you think is going to take the blame when that social unrest start ? Keywords in no special order "apartheid", "minorities", "transformation". You follow......
The_Trader
Frequent Contributor
I think we'll get more value for money if we replace the rand with the Krugerrands or even depeg the orania ora from the rand and start trading with that.
orange68
Super Contributor
it basically means online shopping from amazon is more expensive and holidays is more expensive that's why people are complaining. for us forex traders its fantastic news because our dollars are getting more rands, we can have a short lived moment as the wealthy.
Wizard
Super Contributor
It's time to peg the Rand to the dollar.
Not applicable
name me one economy - globally - past or present - that has successfully managed to do that
Wizard
Super Contributor
Lots of countries have pegged. In the case if Zim they were forced to use another currency(extreme case). Stable Rand would be beneficial for us.
suki
Super Contributor
The BWP is pegged to a basket of currencies, which operates using a crawling band exchange rate using the International Monetary Fund's special drawing rights (SDR) and the South African rand as reserve assets. INVESTOPEDIA