The South African currency lost more than a rand against the US dollar on Thursday alone.
Arabs are taking advantage of the weakness of the rand to travel to South Africa.
Regardless of what the US dollar does, the rand will only improve again when South African workers have learned what productivity is.
Comparison with the land occupations in neighbouring Zimbabwe gave rise to nervousness amongst business investors in South Africa and the rand sank to a new low against the US dollar.
When the bid failed the rand fell against the dollar and shares dropped by 0.7 percent.
The plunge of the rand against the dollar and the pound is going to worsen.
He said strong exports will mean that the South African rand will stay stable against the US dollar.
Visser was somewhat skeptical about the earnings from the auction because of the strengthening of the rand against the US dollar.
Grain SA chairman Bully Botma said the recovery of the rand against the dollar over the past few days had led to a significant reduction in grain prices.
But exporters now grumble that the strength of the South African rand against the dollar and euro is hurting business, especially for prized ostrich leather.