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S.Africa rand firm after smashing 6/dlr overnight


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Old 12-01-2006, 08:50 AM   #1
mcamp999
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S.Africa rand firm after smashing 6/dlr overnight

JOHANNESBURG (Reuters) - South Africa's rand was firm on Thursday near 8-month peaks after smashing through the key 6.0/dlr in overnight trade, extending an early 2006 rally which has been fuelled in part by surging commodity prices.

http://za.today.reuters.com/news/new...archived=False
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Old 12-01-2006, 11:49 AM   #2
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HOw do U see the pro's and cons of this , in this Globalised world of ours ?
Less Rands to RSA/mines for exported gold , S.A. internal and export prices even higher in world-terms...?
Already S.A. wines are quite uncompetitive on the Continent , even against Australian/Chilean ones ( which also have to be brought one helluva long way to our shops ) , not to even mention the prime French ones , of which there's currently an oversupply anycase ;
and if I convert S.A. car prices into Euros , there's not much joy to be had , by comparing , either...
Shouldn't we all rather look forward and cheer to a softer Rand , as a tool to help S.A. to reduce imports and cash outflows...?
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Old 12-01-2006, 12:38 PM   #3
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...on the other hand will not a stronger Rand encourage much needed investment in SA...
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Old 12-01-2006, 03:57 PM   #4
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Quote:
Originally Posted by Ray
HOw do U see the pro's and cons of this , in this Globalised world of ours ?
Less Rands to RSA/mines for exported gold , S.A. internal and export prices even higher in world-terms...?
Already S.A. wines are quite uncompetitive on the Continent , even against Australian/Chilean ones ( which also have to be brought one helluva long way to our shops ) , not to even mention the prime French ones , of which there's currently an oversupply anycase ;
and if I convert S.A. car prices into Euros , there's not much joy to be had , by comparing , either...
Shouldn't we all rather look forward and cheer to a softer Rand , as a tool to help S.A. to reduce imports and cash outflows...?
Personally , i see this as a weakness, the rand should not get stronger and I know that the Govt has considered devaluing the rand but are wary of upsetting foreign investors.
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