Monday, July 23, 2012

Currency Crisis

I have been following the R/€ exchange rate with the perverse hope that the Rand should strengthen as much as it wants to. After all, the stability of SA is not going to be affected very much if the rate were to fall below, say R10 for a few weeks while I need to use Euros on my trip.
You can imagine my delight when I noticed the Rand moving down last week and almost breaking through below R10 - it was 10.02 in fact. But when I checked last evening it was back at R10.25. I can hear the exporters booing and I can sympathize with them - who wants a weak Rand at this delicate time in our history?
However, I am realistic enough to realize that the markets are not going to bear my needs in mind and will do just as they bloody well please. All I can do now is watch and wait.
Watch this space,




Location:Hartbeespoort

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