South African Rand

All time record low to the US$:

• ZAR1 = US$0.081; or
• ZAR12.34 = US$1.00

For me it's good news
My agency commission paid in USD is due for conversion tomorrow.

Deeno wrote: For me it's good news
My agency commission paid in USD is due for conversion tomorrow.

And have a few shares on the NYSE - amazing performance in Rand terms

Makes any overseas trip very difficult

We well on the road to banana republic with the anc communists in charge....

gregbucks wrote: We well on the road to banana republic with the anc communists in charge....

Agree. getting worse by the hour.

Touched 12.71 after good American job numbers , pointing very much to an interest rate increase there later this year . Maybe in for a bigger surprise at 22-00 pm tonight . Fitch may downgrade us . Next week s + p release their ratings on us .... Hold on tight

flaunt wrote: Touched 12.71 after good American job numbers , pointing very much to an interest rate increase there later this year . Maybe in for a bigger surprise at 22-00 pm tonight . Fitch may downgrade us . Next week s + p release their ratings on us .... Hold on tight

Not good news...12.58 at the moment

Deeno wrote:

gregbucks wrote: We well on the road to banana republic with the anc communists in charge....

Agree. getting worse by the hour.

and with comments like this from S'dumo Dlamini (article url attached) we well on our way to a failed state...

www.news24.com/SouthAfrica/News/SA-judic...racy-Cosatu-20150805

gregbucks wrote:

Deeno wrote:

gregbucks wrote: We well on the road to banana republic with the anc communists in charge....

Agree. getting worse by the hour.

and with comments like this from S'dumo Dlamini (article url attached) we well on our way to a failed state...

www.news24.com/SouthAfrica/News/SA-judic...racy-Cosatu-20150805

I am very worried bro.
Orders from my clients have slowed down already.

I got to now start playing horse racing diligently and stop wasting money

exchange rate for the pound is around 20/1. Unreal.

chicken n chips wrote: exchange rate for the pound is around 20/1. Unreal.

Exchange rates are, in the main, a reflection of the strength (or weakness) of a country's economy...obviously speculators and artificial manipulation by reserve banks have to be considered but the Rands (non) performance is a reflection of how poor perceptions are of the current state of the SA economy and where it is heading...

We are paying the price for poor financial management and that happens because too many non financial managers have been tasked with managing billions of Rands of taxpayer money...and compounded by widespread theft and frivolity in our state spending patterns...public sector wage bill is now more than R400 billion (public sector is now the biggest formal sector employer in SA), interest payments on public debt is now over R120 billion (on public debt that has increased from +-R450 billion in 1994 to about R1700 billion as at 2014 and climbing), etc...just not sustainable as only source of income for the state is taxes and if money is borrowed to fund any shortfall, it can only be paid back from money raised via taxes...

So, we are in a real malaise that is not going to be fixed anytime soon...will get a lot worse before there are any signs of any attempt being made to fix the glaringly obvious problems...

And a stock market implosion if not too far off...