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Shifting ZAR to $
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Topic: Shifting ZAR to $ (Read 12951 times)
jonb
Full Member
Posts: 122
Karma: +2/-0
Shifting ZAR to $
«
on:
March 24, 2020, 12:49:48 pm »
Just wanted to throw this out here as of right now
If you have funds sitting in ZAR cash and relatively easy opportunity to move these to US $ ( not stocks... YET) just keep in cash
Would you do it?
Phase it 30% 50% all go all in
I know its given that emerging market currencies are taking a pounding now as investors flee to cash, do you guys think this will continue?
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andre
Jr. Member
Posts: 52
Karma: +7/-0
Re: Shifting ZAR to $
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Reply #1 on:
March 29, 2020, 01:52:49 pm »
No easy answer. Things seem to change quickly nowadays.
I moved ZAR to USD asap this year but still lost 15% in the process (measured YTD) - right now it would be closer to 25%
It's hard to say if ZAR will bounce back at some point but you still have to weigh up the potential recovery vs opportunity to buy into the market close to a bottom?
Personally I'm holding on to USD for now and will phase in some buys (20-30% at a time) over the next 4-6 weeks.
I guess it will still depend on what we see in the USA over the next 14 days...
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yozzi
Full Member
Posts: 157
Karma: +2/-0
Re: Shifting ZAR to $
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Reply #2 on:
April 17, 2020, 05:23:02 pm »
With the Rand taking a hammering at the moment is there a process of sending Rands offshore but not converting to Dollars, Sterling, etc until things get back to normal? In other words using an offshore Rands denominated account?
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The JSE and finance forum for South Africa
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Shifting ZAR to $