SweetiePie:
Help ! Exchange rates are something I know nothing about, and the same is true with the "membership" comment. I want to understand the above postings. ~ SP ~
Hi SP!
Just like the OP, I live in South Africa. It costs me about R50 to buy a sleeve of Level 48 Nike balls.
To put that in perspective; for R50 you can buy 5 loaves of bread, or about 1 US gallon (3.77 litres) of petrol.
The exchange rate between the South African Rand and the US Dollar is currently about 11.17 Which means that for R11.17 I can get 1 US$
EDIT:
It is often said (usually by currency traders and 1st year Economics lecturers) that currency values fluctuate on underlying economic fundamentals but my 3 years so far of studying has led me to the inescapable conclusion that whilst to a certain extent that might be true, the vast majority of currency fluctuations are due to sentiment.