Rand weakens against dollar

Zahz

Zahz

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This is really bad news for us Vapers as we will be paying more for our Vaping Gear
15d1adea761728870b9d9f97685673fa.jpg


Our rand is worth so low to the dollar and this is going to have a rippling effect on everything for us.

What do you guys have to say


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Yeah... it really bad, it not like we want to increase the prices for the gears, but if we don't do it, we will be running losses.
 
True it will cost yourl more to purchase it so it automatically pushes the prices up. Let's hope things get better however at the way we moving I don't think there is anything positive happening


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It is bad news that the Rand has weakened so much against the Dollar

But if I told you that the Australian Dollar and Canadian Dollar had weakened the same would you believe it?
Or that the Turkish Lira had weakened even more than the Rand?

Check out this chart which shows the Rand and these currencies against the US Dollar (in percentage change) over the past two years

The percentages on the top show the amount the currency has weakened against the USD over the last two years. Poor Turkish Lira - at 43%.

currencies against USD.jpg

I am not a currency specialist - but my friends and colleagues tell me that our weakening has less to do about our own internal situation here and more to do with a global sentiment against emerging markets and commodity driven economies. (Aus and Canada)

So in other words, it's all moving in line with several other global currencies.

Just wanted to share that. Not saying its a good thing - just that we are not alone.
 
This is hugely worrying for all vendors concerned. Where do we stand with our imports. We pay a lot of money on VAT and handling fees as it is. Now there is also talks of increasing VAT to 17%. Not only was it getting too much when it was $12 to the Rand but now at $13 is going to have a real huge effect. What do we vendors do? I know we will do utmost to keep pricing very much the same but everybody including the consumer is going to be affected. This goes without saying. I know @Silver you are trying to show us that we are not alone however if you look at those countries you have specified they are 1st world and have the backup to survive these harrowing times. There is money in those countries. South Africa is 3rd world and the majority of it's occupants don't have a nickel to shine. The rich will stay rich, the middle class are becoming poorer and the poor which is the majority are suffering even more than they should be. I'm afraid I do not have a voice for these people however they are still blinded by their dictatorship of a government which disguise themselves as democratic.

We must stay positive in these times but it's very hard to when it seems to be getting worse and worse. I'm sorry this was not meant to be a political statement but I'm just worried for all of us. I like to be able to vape what I can afford but this is now looking bleak.

I wish everybody good luck and may the vape be with you.
 
The important part for me is that since Jan Rand:RMB was 1.8, now it 2.13 (mid) where you can probably expect the worst when change is done by bank when you pay money internationally.

And plus the import duty and VAT is "multiple" of the figure, it just get amplified when ever rand drops.

So Rand:Dollar is just more clear indication as most of import is related to Rand:Dollar.
 
Zeki Hilmi said:
I know @Silver you are trying to show us that we are not alone however if you look at those countries you have specified they are 1st world and have the backup to survive these harrowing times.
Click to expand...

Hi @Zeki Hilmi
I hear you and understand what you are saying - but just to let you know there are several other emerging market countries that have seen their currencies weaken dramatically against the dollar. Its not just the 1st world ones like Aus and Canada.

Here is another chart:
Nigeria is about the same as us.
Brazilian Real is quite a lot worse
And Russia is even worse.

currencies2.jpg
 
Time to import from Russia it seems.... Maybe I can afford that Russian Bride now :D
 
We should have bought shares when the prices were low last night and sold high to fund our Vaping gear.


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It's time for us to start a Vape Stokvel to fund some bigger better Badder Mods


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Silver said:
It is bad news that the Rand has weakened so much against the Dollar

But if I told you that the Australian Dollar and Canadian Dollar had weakened the same would you believe it?
Or that the Turkish Lira had weakened even more than the Rand?

Check out this chart which shows the Rand and these currencies against the US Dollar (in percentage change) over the past two years

The percentages on the top show the amount the currency has weakened against the USD over the last two years. Poor Turkish Lira - at 43%.

View attachment 34502

I am not a currency specialist - but my friends and colleagues tell me that our weakening has less to do about our own internal situation here and more to do with a global sentiment against emerging markets and commodity driven economies. (Aus and Canada)

So in other words, it's all moving in line with several other global currencies.

Just wanted to share that. Not saying its a good thing - just that we are not alone.
Click to expand...
@Silver the stock exchange took a nose dive Monday so that sucks,I can tell you things are not good here either and the situation does not inspire confidence,you might think me crazy but I hope Trump can get in next election.Things can't stay on the same course over here.Wish you luck.
 
This is just the beginning. People are waiting for what the Fed is doing next month.Chances are good for an interest rate hike in the dollar, which will nail the Rand big time
 
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