i find it so odd that you approach the ZAR exchange rate as some kind of point of pride or shame. Taken by itself, a drop in the rand is very good for many people in SA whether they know it or not. All other things being equal, more South Africans will be kept at work in fruit orchards, vineyards, manufacturing, tourism and any other business that is based on foreign investment or produces revenue in USD. Doesn't mean things are good in the country....but they would be even worse if the USD/ZAR were at 12 or 14
Timonrosso
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@dgoldiner, You're right in a sense that there are good and bad elements to a weaker rand and to find the balance is a tricky one. Those who earn in rands from businesses in South Africa and travel and live around the world, feel the pain. Not to mention any names :P
dgoldiner
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@Timonrosso, exactly middle and upper class south africans suffer when ZAR drops. I believe the thing about this recent drop is that it appears to be a reaction to conditions inside the country (EISHKOM!) rather than fundamentals that the USD/ZAR usually responds to like especially interest rates and (the Fed!) in particular. Especially since many many people trade the pair mostly as a proxy for USD strength or weakness vs EM currencies writ large