I've just noticed a move from 11 rand to the pound to about 14 in a period of 3 or four months. Is there a problem in South Africa?
2006-10-02 10:49:19 · 7 answers · asked by James 6 in Travel ➔ Africa & Middle East ➔ South Africa
Foreign investors have go the jitters over the higher than expected current account deficit, the high levels of violent crime and corruption and the prospect of Jacob Zuma being the next President.
2006-10-03 03:06:10 · answer #1 · answered by Alf Garnett 3 · 0⤊ 1⤋
The main reason is the current account deficit, or at least that is what the papers are saying. A weak currency doesn't always mean a weak economy. The current account deficit could actually symbolize a growing economy as consumer demand for imports increases. It is also a presents a good oppurtunity to visit SA as it is even cheaper than usual.
2006-10-03 01:09:12 · answer #2 · answered by Anonymous · 1⤊ 0⤋
The Rand is influenced by the price of gold, which has been slipping in past few months. Also SA is currently importing more than it is exporting, which causes a trading deficit and it influences the value of the Rand.
2006-10-02 11:44:12 · answer #3 · answered by Joyce F 2 · 6⤊ 2⤋
its not suddenly, a couple of years ago it was over R20 to the pound. I guess our weak economy can be contributed to many factors. All depressing... try living off the rand, that's why all our graduates bugger off to england first chance they get. You cant pay off a student loan here anymore
2006-10-02 20:28:12 · answer #4 · answered by tay_jen1 5 · 1⤊ 1⤋
CRIME = South Africa - Crime CAPITAL of the WORLD!
CORRUPTION = ANC GOVERMENT laughing stock worldwide..
POOR SERVICE DELIVERY = Any services delivered is seen a priviledge (A HUGE ONE), not as a right!
JUSTICE = NO JUSTICE FOR LAW OBIDING CITIZENS, criminals has more rights than law obiding citizens!!!!!!!
HEALTH = I only need to mention one name "MANTO TSABALALA MSIMANG", the rest is self explanatory!!!!!
etc.
Now take all this and then wonder why the ZAR isn't worth jack anywhere...
POOR GOVERMENT = POOR ECONOMY !!!!!!!!!!!!!!!!!!!!
2006-10-02 21:00:48 · answer #5 · answered by Louis du Toit 1 · 1⤊ 3⤋
Is it?
Well time for me to send some money home then!
2006-10-03 00:09:36 · answer #6 · answered by Anria A 5 · 0⤊ 0⤋
who gives a f.t.s.e
2006-10-02 11:01:35 · answer #7 · answered by Anonymous · 2⤊ 2⤋