The Accurate Reloading Forums
The RSA RAND is now...11 x 1 today
20 June 2006, 16:39
Terry BlauwkampThe RSA RAND is now...11 x 1 today
Hey, the Rand finally got above 7 this week.
That ought to be good news to the outfitters there.
Remember, forgivness is easier to get than permission.
20 June 2006, 17:18
PeterVTerry,
I was talking to a local Economist last Thursday - he is strongly of the opinion that this is going to go a lot further and predicts ZAR 10.00 to US$ 1.00 by early 2007 and hovering there for bulk of next season....could be good some and tough for others as always.
20 June 2006, 18:59
ChrisTroskiequote:
That ought to be good news to the outfitters there.
Yes, good news indeed for us who earn an income in $$$. It is a pity one couldn't foresee this a month or so back when the $ was trading at under R6 to $1 and we had to bank some of our hard-earned Dollars.
As Peter V says: good for some - not necessarily so good for others. The SA Reserve Bank recently announced a hike in the prime lending rate and if the economist he was referring to is correct about where exchange rate will be by 2007 we can expect more rate increases to follow - this is certainly not good for us who have mortgages to pay...
20 June 2006, 20:37
eyedocSo I guess we can expect to see abig drop in trophy fees and daily rates right away?At least for those of us who pay with $$$.
We seldom get to choose
But I've seen them go both ways
And I would rather go out in a blaze of glory
Than to slowly rot away!
20 June 2006, 20:50
JagterThe view of another SA economist:
quote:
Though this cyclical consolidation isn't expected to last long or go particularly deep, it will be influenced by external developments and policy actions.
That could also mean that the Rand may not weaken as much as some people hope it would!
SA's economy will be in total much better off with a reasonably strong rand - R7.50/US$1 preferably.
OWLS
My Africa, with which I will never be able to live without!
20 June 2006, 21:03
GanyanaOh quit geting excited. The zim Dollar reached 395000:1 today. In 10 -15 years, you to will get here
20 June 2006, 22:43
HunterJimI remember my first hunting trip to Southern Africa, the Rand was 3.385 to 1 US$. Over the next 10 years it rose to 12 to 1, then gained back to 6 to 1.
It is an interesting lab study...jim
if you're too busy to hunt,you're too busy.
20 June 2006, 23:16
Use Enough GunMy first trip it was 11 USD to 1 R. I will be glad to see it climb again. More strength and buying power for the U.S. Dollar. I remember not too long ago when some outfitters were considering basing their new Safari charges on speculation that the Rand was going to reach 5 USD to 1 R. I felt like I was being raped at the time and could do nothing about it. My, how times have changed!
21 June 2006, 01:26
cchunterquote:
Originally posted by Use Enough Gun:
My first trip it was 11 USD to 1 R. I will be glad to see it climb again. More strength and buying power for the U.S. Dollar. I remember not too long ago when some outfitters were considering basing their new Safari charges on speculation that the Rand was going to reach 5 USD to 1 R. I felt like I was being raped at the time and could do nothing about it. My, how times have changed!
With 11 or 5 USD to 1 Rand that is defenetly a rape
Should be the other way around I suppouse.
21 June 2006, 09:56
sierrabravo45Great, more crap to bring home now that the exchange rate is good.
Mink and Wall Tents don't go together. Especially when you are sleeping in the Wall Tent.
DRSS .470 & .500
21 June 2006, 17:49
Terry BlauwkampUp to 7.20 today
Remember, forgivness is easier to get than permission.
21 June 2006, 21:27
Use Enough GunGood deal. May the USD continue its climb against the Rand!
22 June 2006, 21:36
Jaco HumanIt moved to R7.41 and then strenghened to R7.30. What is interesting is that after the intrest rate hike was anounced, our stock exchange made heavy losses and the Rand started weakening. For the last 3 days the stock exchange started claiming back some of it's losses even though the Rand weakened. I can remember a year ago our markets only strenghtened significantly when the Rand strenghtened. Now it is the reverse.
Funny how economics works.
Life is how you spend the time between hunting trips.
Through Responsible Sustainable hunting we serve Conservation.
Outfitter permit no. Limpopo ZA/LP/73984
PH permit no. Limpopo ZA/LP/81197
Jaco Human
SA Hunting Experience
jacohu@mweb.co.za
www.sahuntexp.com 22 June 2006, 21:55
kayakerIt certainly is interesting Jaco,
After befriending, studying with and hanging with soem economists (there goes my social life) i have learnt one thing.
They will almost always say there is a problem, crisis, bad news, etc, even as an addendum to good news, because if they ever said all was well..they would be out of work!
he he
01 October 2014, 22:56
GunsCoreTimes do change. The rand is now 11.25 per dollar. Pretty soon, it ought to be free to hunt the RSA! Hell, they should pay us to show up and relieve them of their overstocked game ranches!
STAY IN THE FIGHT!
01 October 2014, 23:05
ScriptusCrap, the cost of diesel and every little shitten thing. When Afro-socialist wankers fu..eeerr run things [into the ground.]
01 October 2014, 23:18
Opus1quote:
Originally posted by Scriptus:
Crap, the cost of diesel and every little shitten thing. When Afro-socialist wankers fu..eeerr run things [into the ground.]
Yep. It only helps if you're paying in USD. Otherwise, costs are just going up in SA.
___________________
Just Remember, We ALL Told You So.
02 October 2014, 12:01
Neil-PH..........and it will not improve by any substantial amount - ever. No different to the Zim dollar.
For those of you interested, I was querying the payout of my late father's insurance policies, the value of which were ascertained by inflation values over a number of years.
The values given to me from the insurance company quoted currency at Z$650 quintillion to US$1 (650 followed by 13 zeros)
02 October 2014, 20:38
AnotherAZWriterI took my RSA software manager and his sister to dinner in Richards Bay and was stunned how cheap the bill was; we all had steaks.
02 October 2014, 21:15
StonecreekAs always, fluctuations in currency exchange rates have multiple and sometimes counter-acting impacts.
Petroleum is denominated virtually world-wide in US Dollars. This means that gasoline in SA will increase in price as the ZAR inflates.
But domestic wages, food grown domestically, and other domestic products of SA will decrease in cost when denominated in USD.
Therefore, it will cost a South African outfitter as much as ever for imported commodities which are essential to the hunt (fuel, vehicles, etc.), but a bit less (in terms of USD) for labor, most food, and the game animals themselves, which are the most "domestic" product of all.
But the savings on domestic commodities won't likely be enough for the outfitters to lower their prices, which are already denominated in "hard" currencies like the USD or Euro. It might give them enough extra margin to offer some bonuses or freebies as an incentive to book.
02 October 2014, 22:12
Labmanquote:
Petroleum is denominated virtually world-wide in US Dollars. This means that gasoline in SA will increase in price as the ZAR inflates.
If petroleum and other imported goods go up in price in SA due the exchange rate with the USD and the outfitters are being paid in US currency then this should be close to a break even proposition for the outfitters. They will get more ZAR when they convert their US dollars. It may not be exactly an even up swap, but it should be close.
Tom Z
NRA Life Member
03 October 2014, 23:06
ScriptusZAR11.34 to the greenback today. Every time one of these dimtwats says or does something bright, they shoot another hole in the economy.
04 October 2014, 00:07
Opus1As the US economy recovers and as Yellen honors her pledge to end QE and ever so slowly raises interest rates in 2015, the dollar will continue to strengthen against all currencies including the ZAR.
Watching gold in a free fall today was also interesting...
___________________
Just Remember, We ALL Told You So.
04 October 2014, 01:31
NakihunterWhile in SA everyone just used R10 per US$. So I was losing 13% every time I paid in US$!
In the airport restaurant the girl said they offered R9 per US$ & then wanted a tip for my R90 bill after I paid 25% extra!
"When the wind stops....start rowing. When the wind starts, get the sail up quick."
04 October 2014, 06:13
Stonecreekquote:
Originally posted by Nakihunter:
While in SA everyone just used R10 per US$. So I was losing 13% every time I paid in US$!
In the airport restaurant the girl said they offered R9 per US$ & then wanted a tip for my R90 bill after I paid 25% extra!
You'll rarely get the full exchange rate from a retailer when you pay with foreign currency. That's why it is best to have the local currency on hand when buying something denominated in the local currency. This is true in virtually any country, regardless of how weak or strong its currency. I recall visiting Canada several years ago when the USD was worth about $1.07 CDN. When paying a hotel bill I asked if they accepted US Dollars. "Why certainly sir, we take them Dollar for Dollar and charge no fee for the exchange," came the straight-faced reply from the desk clerk.
04 October 2014, 08:00
jdollarthat's why you pay for such stuff with a credit card and get the official" exchange rate( and with the M/C AA world elite business card, at least) no fees at all.
Vote Trump- Putin’s best friend…
To quote a former AND CURRENT Trumpiteer - DUMP TRUMP
07 October 2014, 08:20
Jaco Humanquote:
Originally posted by Stonecreek:
As always, fluctuations in currency exchange rates have multiple and sometimes counter-acting impacts.
Petroleum is denominated virtually world-wide in US Dollars. This means that gasoline in SA will increase in price as the ZAR inflates.
But domestic wages, food grown domestically, and other domestic products of SA will decrease in cost when denominated in USD.
Therefore, it will cost a South African outfitter as much as ever for imported commodities which are essential to the hunt (fuel, vehicles, etc.), but a bit less (in terms of USD) for labor, most food, and the game animals themselves, which are the most "domestic" product of all.
But the savings on domestic commodities won't likely be enough for the outfitters to lower their prices, which are already denominated in "hard" currencies like the USD or Euro. It might give them enough extra margin to offer some bonuses or freebies as an incentive to book.
Your theory is right, the only problem is that when the fuel price goes up everything else also goes up, when the fuel price goes down everything else does not go down. Weird economics we have in Africa.
Life is how you spend the time between hunting trips.
Through Responsible Sustainable hunting we serve Conservation.
Outfitter permit no. Limpopo ZA/LP/73984
PH permit no. Limpopo ZA/LP/81197
Jaco Human
SA Hunting Experience
jacohu@mweb.co.za
www.sahuntexp.com