US Markets Plunge = Rand Down?

October 8, 2008

Admittedly, I am not an economist. Even being an armchair observer, one cannot help but notice that despite a plethora of bad news concerning the US economy and more specifically the financial industry, the dollar continues a steady rise against the South African Rand.  When I first began following the currencies a month and a half ago, the exchange rate was approximately R6.8 = $1. As of this morning, the exchange rate is R9.3 = $1. A welcome relief for us traveling. Someone with much better understanding of the complex world economy I’m sure could explain this to me.

As for now, I am hoping that it reaches R10, so that I can convert without need for a calculator.


One Response to “US Markets Plunge = Rand Down?”

  1. […] 4” long) and mine a local fish. Including a bottle of wine and dessert, our meal came to R420 (divide by 10 remember.) That includes the 14% VAT tax. We had been talking with the waitress who has a winsome smile and […]

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