The FTSE/JSE AFRICA ALL SHR over the last year (click here).
It is easy to tell when the global economy lost its footing. It started June 30, 2008.
One of the first places global instability is noted is in the chroncially turbulent African Rand. The Rand always is somewhat volatile simply because so much of its value falls in the area of commodities based in Consumer demands such as diamonds and oil. The fall of the Rand has never been this dramatic or profound. The global economy is a mess. Completely. We need a change in DC and we need it NOW !
...South Africa's currency also weakened as equities in Africa's biggest economy dropped. The benchmark FTSE/JSE Africa All Share Index fell for a third day, headed for a fifth weekly decline. The rand had its biggest one-day slump since at least the end of apartheid in 1994, when it lost almost 18 percent on Oct. 15. Yesterday it reached the lowest level since August 2002....
Average Rates 2008
January
6.99369 ZAR (23 days average)
February
7.6579 ZAR (21 days average)
March
7.99206 ZAR (21 days average)
April
7.75848 ZAR (22 days average)
May
7.61 ZAR (22 days average)
June
7.93673 ZAR (21 days average)
July
7.61571 ZAR (23 days average)
August
7.66556 ZAR (21 days average)
September
8.0583 ZAR (22 days average)
October
9.30815 ZAR (15 days average)
