MyPE

Community Business Directory, Event Listings, News and Views from Gqeberha, Nelson Mandela Bay

Rand Dollar – Good for Exporters and Bad for Our Health

By

Economists are quite correct when they say that we should not moan about the poor performance of the Rand against Foriegn Currencies as it benefits our balance of payments by making inflows from the sale of exports larger.

If you produce in Rands and export you want the Rand to struggle against the Dollar or the Yuan or the Yen or the Pound.

Lets take Manganese Ore as an example:

If the Rand is weak against the Dollar and the Dollar weak against the Chinese Yuan Renminbi then exporters have the perfect storm as Chinese steel manufacturers will then receive their Manganese Ore at a better price whilst the SA Exporters will make more money.

So why is this bad for our health?

Simple – a weak Rand will mean more exports through the Port of Port Elizabeth and the pressure to take advantage of our weak currency will demand a higher throughput which, in turn, will increase the chances of mistakes and DUST being released onto our beleaguered citizens.

Your opportunity to comment on the continuing operation in the Port of Port Elizabeth is at hand:

Transnet Port Terminals is applying for the renewal of their Atmospheric Emission Licence which was granted for the storage and/or handling of manganese ore at the bulk terminal, break-bulk terminal, container terminal and Shed 101 of the Port of Port Elizabeth.

Register as an IAP and send comments to Wanda Marais of SRK Consulting before 12 October 2018 via Fax: 041 509 4850, email: wmarais@srk.co.za or letter: P.O. Box 21842, Port Elizabeth, 6000.

The following two tabs change content below.
My Twitter profileMy Facebook profileMy Google+ profileMy LinkedIn profileMy Flickr profileMy Pinterest profile

Alan Straton

Chief Cook, Bottle Washer and Broom Mechanic at MyPE
Passionate about Port Elizabeth and definitely NOT packing for Perth. Alan's ethos is epitomised in the words of Nelson Mandela; "I have fought against white domination and I have fought against black domination. I have cherished the idea of a democratic and free society. If need be, it is an ideal for which I am prepared to die." See more articles by Alan.