The Rand

[AndreZA]

The travel industry is taking serious strain with people deciding to holiday closer to home

 

Not really. Do you know how much caravan stand prices has jumped since the owners realised this.

 

 

[widget]

Quite right JL.!

 

Nobody knows the future, probably why its called "the future".

 

Actually, the rand fell to R14.00 to the dollar in 2000 /2001 and recovered within 6 months to R7.00 and witihin another 6 months to R6.00.

 

Theres nothing we can do about it, so just get on with it, if it costs more now, well, it costs more, but personally I would say, instead of wasting money on bling bike parts, invest it in some Blue chip shares NOW, I cant remember seeing some of them so low. When that bike you really didnt need is long worn out and forgotton in the garage, the money in the market will be doubled.

   

[APJ88]

i need some peoples opinion: ive got some money in a UK account now, would you transfer the money over to SA now or should i leave it in the UK for another year? (i wont need the money in the next year though)  

[Piernas Flacas]

I'd say transfer it and invite us all hubbers for drinks.

[SwissVan]

 

Yes and airline traveling is going to become very expensive over the next few years, might have to look at traveling by ship or bicycle in future..

 

 

[Guest Big H]

When we left to Mozambique on the start of our African "adventure" we said if the R/$ exchange rate would drop below R5.85 we will call it quits. I got R9.06 last week when I transferred. R3.21 is quite a princely "profit" I got a deposit on my bakkie that way!!!!!!

 

I know I could have scored more if I waited. I have a minimum wage that I work for...... but working in Africa I also have a maximum wage. The R9.06 was way above my maximum. Going above your maximum is just an unacceptable rise in risk.

[Joe Low]

i need some peoples opinion: ive got some money in a UK account now' date=' would you transfer the money over to SA now or should i leave it in the UK for another year? (i wont need the money in the next year though)  [/quote']

 

Today is likely not a good day to make that kind of decision.

 

The only reason to transfer now, when you don't need the money, is if you believed the Rand has hit the lowest point it's going to for the next yr.

 

Time to dust off your crystal ball.

 

 

[APJ88]

i need some peoples opinion: ive got some money in a UK account now' date=' would you transfer the money over to SA now or should i leave it in the UK for another year? (i wont need the money in the next year though)  [/quote']

 

Today is likely not a good day to make that kind of decision.

 

The only reason to transfer now, when you don't need the money, is if you believed the Rand has hit the lowest point it's going to for the next yr.

 

Time to dust off your crystal ball.

 

 

 

something tells me to leave it in a UK account for now and get some interest, and HOPEFULLY HOPEFULLY next year the pound will b just as strong or even stronger!

[APJ88]

i need some peoples opinion: ive got some money in a UK account now' date=' would you transfer the money over to SA now or should i leave it in the UK for another year? (i wont need the money in the next year though)  [/quote']

 

Today is likely not a good day to make that kind of decision.

 

The only reason to transfer now, when you don't need the money, is if you believed the Rand has hit the lowest point it's going to for the next yr.

 

Time to dust off your crystal ball.

 

 

 

something tells me to leave it in a UK account for now and get some interest, and HOPEFULLY HOPEFULLY next year the pound will b just as strong or even stronger!

[Guest Big H]

i need some peoples opinion: ive got some money in a UK account now' date=' would you transfer the money over to SA now or should i leave it in the UK for another year? (i wont need the money in the next year though)  [/quote']

 

Today is likely not a good day to make that kind of decision.

 

The only reason to transfer now, when you don't need the money, is if you believed the Rand has hit the lowest point it's going to for the next yr.

 

Time to dust off your crystal ball.

 

 

 

something tells me to leave it in a UK account for now and get some interest, and HOPEFULLY HOPEFULLY next year the pound will b just as strong or even stronger!

 

If that bank that has your UK account still exists by that time!!!!!!

[SwissVan]

i need some peoples opinion: ive got some money in a UK account now' date=' would you transfer the money over to SA now or should i leave it in the UK for another year? (i wont need the money in the next year though)  

[/quote']

 

Well depends how much interest your UK money is earning and if it is invested in a fund that might be affected by the current fall in share prices..or even worse with one of the Icelandik banks (have branches in England) which were offering such good interest rates a few months ago...

 

Basically you will probably get a higher interest rate in SA in a " safe" investement (money market a/c or fixed dep) BUT you then got to hope that the ROE does not screw u and HOPEFULLY drops again to the "usual" 6/7 : 1 ($ roe).

 

Decsions...

 

 

 

 

 

[APJ88]

yea that makes sense, HSBC in UK, and ABSA in SA, i think HSBC is okay, 5.25 % int.

[Joe Low]

Uk govt. guarantees deposits with banks there up to 50,000 quid, so you don't have to take it out fearing the bank's collapse - if you've got more than that, you shouldn't be on this site asking advice .

[APJ88]

im not there just yet!!!

[SwissVan]

 

HSBC probably safer than gambling with the ROE.

 

Question: How safe is HSBC? In the event (unlikely...but...) HSBC goes under how much of your money is gauranteed? I believe that the UK govt has said they would gaurantee UK Banks 100%, not sure if HSBC qualifies as a UK Bank?