ZAR:USD Exchange Rate

Tribs

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You have no clue what a difference this makes to my clients and us. We get billed in Dollars and convert it to rands for our clients. We negotiated a payment delay or we would have lost most of the community stations. We are also giving them a much lower rate than what they should be getting. Rather take losses now than lose the customer completely.
 

Johnatan56

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This seems more like the dollar weakening though, as the AUD, NZD vs us hasn't really changed that much.
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Wish I could change the scale to be the same, but based on the above, the last week or so, agreed.
 

bigAl-sa

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Let's hope no-one says anything stupid. I want to move a few ronts offshore.
 

biometrics

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Can those knowledgeable about currency exchange rates comment on the R:$ improvement? Are we going to go through R16:$?
 

biometrics

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The bank recommends selling the dollar against a currency basket made up of the South African rand, Indian rupee and the Mexican peso and advises buying the Australian and Canadian dollars and the euro.

 

Tribs

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I know -= and I have forex payments to make tomorrow. Really happy and hoping it holds
 

Johnatan56

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This is where we will be in a year or two.

View attachment 7665
I kind of doubt it due to the budget speech on the 28th, which will then probably hint at tax increases across the board in Feb/March.
I'm betting on them implementing a duties fee for online services, and they'll probably do something like extend the "amusement" tax to include online streaming services, which will make South Africa less competitive as it will reduce spending, so less money in use.

Then they'll probably mess with dividends tax as well, so impact JSE, and they'll probably try and mess with onshore vs offshore investment percentages first before going full must invest in government backed stuff; all of those decreasing the worth of the rand as all of them reduce the demand for it while higher net worth individuals will try and sell to get money out of the country.
 

Düber

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I kind of doubt it due to the budget speech on the 28th, which will then probably hint at tax increases across the board in Feb/March.
I'm betting on them implementing a duties fee for online services, and they'll probably do something like extend the "amusement" tax to include online streaming services, which will make South Africa less competitive as it will reduce spending, so less money in use.

Then they'll probably mess with dividends tax as well, so impact JSE, and they'll probably try and mess with onshore vs offshore investment percentages first before going full must invest in government backed stuff; all of those decreasing the worth of the rand as all of them reduce the demand for it while higher net worth individuals will try and sell to get money out of the country.


:) Do they know you have a copy of the speech?
 

Düber

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Naah it is all some people are talking about today - seems like common knowledge for those who are interested
:) I should have hinted a bit stronger at sarcasm.
They are going to rattle every source of cash they can, we are just not sure how hard they are going to shake.
 

Tribs

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:) I should have hinted a bit stronger at sarcasm.
They are going to rattle every source of cash they can, we are just not sure how hard they are going to shake.
Elections are coming - they cannot rattle too hard
 
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