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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: The Wharf who wrote (22117)	12/7/2004 6:01:36 AM
From: sea_urchin	Read Replies (1) \| Respond to of 81164

Darleen > South Africa is currently building up a sizeable trade deficit as a result of cheap imports on the back of a stronger currency. Ande the rest of it, particularly the destruction of many/most export oriented businesses including the mines. I for one have been bleating about the strong rise in the rand but, of course, I'm just a voice in the wilderness. The government loves a strong rand, irrespective of the cost to the country, because they interpret it as confidence in them. So they keep the interest rates higher than anywhere else (9-105) just to ensure that it happens. For three years now it has been a no-brainer to borrow US dollars and buy SA Treasuries. Those who did that made on the interest differential and on the FOREX.