I (Don't) Have A Gun
kiwifarms.net
- Joined
- May 13, 2021
South Africa doesn't produce a lot of luxury, fancy or high tech goods. So things like cars and electronics are imported (largely) and so it dependent on the exchange rate between the Rand (South African currency) and the Euro, Pound, Dollar or whatever else.Years of a TV with Bloomberg on being closest to my desk at work has made me associate any discussion of the stocks with hedgies and banksters. Familiarity breeds contempt.
So this has had an impact on the exchange rate
Things are starting to stabilize. Granted it wasn't that big of a deal things the exchange rate didn't even hit where it was a few months back
So it's not like these riots are destroying the local economy, but it is just another in a long line of examples of how fragile the exchange rate is. Naturally there's a bunch of things tied to the exchange rate, but most of that is for smarter people to worry about.