[OPINION] If you can, lean into the weakness, says the author – when something is on sale, buy more. Moneyweb stocks markets
Good news in South Africa seems as scarce as reliable electricity these days. Or as scarce as reliable water supply in Gauteng, for that matter. The glass is neither half full nor half empty, but has been stolen, some will quip. If it is not Eskom failing, it is the rand falling. On top of the daily domestic struggles, we also face an increasingly unforgiving global environment and evaporating investment returns. What to do about all this gloom? The one option many are taking is to emigrate.
The rand is the currency in daily use in South Africa. This is not the case in all emerging markets, where dollars are often in widespread use due to the lack of a credible local currency and financial system. Argentina and Zimbabwe are good examples. It means, though, that South Africans must settle their bills in rands, and therefore need to consider the impact of exchange rate movements on retirement savings.
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