Rand value

[Santina]

How many rands make up a dollar and is aJuly Sudwala week considered red peak?

Karen

 

[chuckie50]

Rand

According to Oanda http://www.oanda.com/convert/classic one US dollar is worth 6.48050 Rand.

Depending on the South African school calendar some July weeks are peak and others are not.

 

[tonyg]

I wonder if the recent gold miners strike will affect the rand value ?

 

[JeffV]

Here is a website that I like for currency conversions.
http://www.xe.com/ucc/

 

[History Horn]

All I know is the last time I paid my levies, I got my butt kicked on the conversion compared to years past. Looks like it hasn't gotten much better.

 

[Avery]

Me too, I paid $470 this time; about $100 more than last year. Still not bad for a GC Peak 2 bedroom that I'm getting good trades with, but not the great bargain it used to be... I think we're getting "double whammied..." the MFs are going up about 10% per year (in Rand), and the conversion is not what it once was...

 

[Karen G]

The rate seems more favorable this year than last. This week I paid $306.81 for R2,035.

Last year it was $339.99 for R2,020.

 

[Aldo]

You've got to remember that the rand is a relatively small currency which is intimately linked to the price of Gold.

And remember also that 4-5 years ago, the Rand, just like Gold, came under massive speculative attacks by international hedge funds who manipulated it's price well below what it probably would have traded for in an honest free market. The rand was around 12 to the dollar, gold around $250.

This speculation ended (badly) just about the same time that the structural weakness of the U.S. economy, and the dollar, really became apparent to anyone who cared to look...a nation with a massive trade deficit who doesn't really produce many finished goods for export anymore, unwilling to tax itself even for current spending, a nation of aggressive militaristic slobs, which really can't support it's won paper currency.

These two thing emerged simultaneously and drove the dollar down to almost half it's former value against the rand.

SA newpaper articles indicate that the South Africans themselves would like to see an exchange rate of around 8 Rand to the Dollar. I don't they ever will. Eventually, and we see it happening now, the Dollar will lose it's place as the world's reserve currency and this rate won't matter insofar as SA finances anyhow.

The only thing keeping the dollar strong lately are radicals burning cars in Paris and across Europe.