Kromdraai Posted February 19, 2008 Report Share Posted February 19, 2008 Has anyone used the XE website to transfer money ... safe? ... and is the rate better than say FNB? Quote Link to comment Share on other sites More sharing options...
Springbok Posted February 20, 2008 Report Share Posted February 20, 2008 Has anyone used the XE website to transfer money ... safe? ... and is the rate better than say FNB?I've used it - no problems. You get a better exchange rate than through the banks, but remember the actual transfer does not bypass the bank, i.e. you still need tax clearance for amounts over R160,000 p/p. And the bank will still levy an admin fee. Quote Link to comment Share on other sites More sharing options...
Kromdraai Posted February 20, 2008 Report Share Posted February 20, 2008 thanks Springbok ... I'm in the registration process ...do you think Trevor's speech will influence the rand? I think he will make money available to eskom and the rand will strengthen. Your thoughts? Quote Link to comment Share on other sites More sharing options...
Springbok Posted February 20, 2008 Report Share Posted February 20, 2008 thanks Springbok ... I'm in the registration process ...do you think Trevor's speech will influence the rand? I think he will make money available to eskom and the rand will strengthen. Your thoughts?Trevor's speech may have a short-term, kneejerk reaction (up or down) on the Rand, depending on what he says. But longterm it's going further downhill in my opinion. Remember that the effect of Eskom's power failures on the economy will only be seen in the 2nd half of 2008. Below is how the AUD and the ZAR fared against the EUR for the first 7 weeks of 2008. Shocking isn't it: Quote Link to comment Share on other sites More sharing options...
Kromdraai Posted February 20, 2008 Report Share Posted February 20, 2008 Wow ... so the effect on the rand is a strong AUD too! I fly over on the 6th and must transfer money before that ... Quote Link to comment Share on other sites More sharing options...
Jordy Posted February 22, 2008 Report Share Posted February 22, 2008 But hey!! If you look carefully, it's botteming out at the bottom! There's at least 2 pixles of flat spot! Hi Craig,I wonder if you would mind please posting an updated graph that you put in your first post of this thread. Perhaps even better if you could provide the link where you found it.Ag ta muchlyJordy Quote Link to comment Share on other sites More sharing options...
Brissy Bessies Posted February 22, 2008 Report Share Posted February 22, 2008 Do you need a visa to exchange money or can you do it before that comes? Quote Link to comment Share on other sites More sharing options...
wislon Posted February 23, 2008 Report Share Posted February 23, 2008 Do you need a visa to exchange money or can you do it before that comes?They wanted to see my e-Ticket at Rennies when I went for the LSD last year. They looked at my passport too, but they didn't page to where the visa was. Tho she did punch my passport number into her terminal, so maybe she could see online if I had a visa. I am not sure if this is the policy of all foreign exchange agents, but I suspect they'd all have a variation on the same theme. Whenever I want to go to the UK they want some sort of documentary proof that I am or have bought a plane ticket (have never needed a visa to go to the UK, but I hear that will change because of nauseatingly corrupt DoHA officials, thanks guys!). Then again, they might assume people wouldn't buy a plane ticket if they didn't have the relevant visas etc. where required. I'm not sure if it would be possible to book the ticket, get the docs, change the cash to what you need and then cancel the plane ticket (at a cost)? Not exactly above board tho... might make you feel like one of those DoHA officials mentioned earlier. Or not. Quote Link to comment Share on other sites More sharing options...
ronster Posted February 25, 2008 Report Share Posted February 25, 2008 Latest exchange rate.This is scary!! Wednesday, February 20, 2008 1 South African Rand(s) = 0.160336 New Zealand Dollar(s) 1 NZD = 6.23692 ZAR1 ZAR = 0.160336 NZD 1 South African Rand(s) = 0.139283 Australian Dollar(s) 1 AUD = 7.17961 ZAR1 ZAR = 0.139283 AUD Quote Link to comment Share on other sites More sharing options...
Swerwer Posted February 25, 2008 Report Share Posted February 25, 2008 This one should update all the time:http://au.finance.yahoo.com/currency/conve...;amt=1&t=1y Quote Link to comment Share on other sites More sharing options...
CraigAndMel Posted February 25, 2008 Report Share Posted February 25, 2008 Sorry Jordy! Here's todays one. You can also get an updated one here:http://www.x-rates.com/d/AUD/ZAR/graph120.html Quote Link to comment Share on other sites More sharing options...
Amaozzie Posted February 25, 2008 Report Share Posted February 25, 2008 Hi,Thanks for this link! I check it each day as I am trying to work around when to send cash now.Cheers,Craig Quote Link to comment Share on other sites More sharing options...
Sonica Posted February 25, 2008 Report Share Posted February 25, 2008 Hi!We use FNB Travel Card last year when we went to USA but we needed our passport and E ticket. The card was very useful!Sonica Quote Link to comment Share on other sites More sharing options...
Lynn Posted February 27, 2008 Report Share Posted February 27, 2008 But hey!! If you look carefully, it's botteming out at the bottom! There's at least 2 pixles of flat spot! I am not rushing - there is profit taking at the moment and this will come back a little - this is not the end rate. Do not be too hasty to transfer the Rands to A$'s.Lynn Quote Link to comment Share on other sites More sharing options...
CraigAndMel Posted February 28, 2008 Report Share Posted February 28, 2008 Our problem is we fly on Monday.. so we're kinda out of choices now. But I see the rand has picked up a bit.. not a lot, but a bit. I hear the US$ got a hammering, which has helped the Rand a bit.. not sure how it works, but as long as the graph goes up a bit more before tomorrow, I'll smile. Quote Link to comment Share on other sites More sharing options...
Dugong Posted March 3, 2008 Report Share Posted March 3, 2008 Last 120 dayslatest (Mar 3) 7.31598 lowest (Dec 5) 5.8729 highest (Mar 3) 7.31598 Not a pretty picture is it!!! Quote Link to comment Share on other sites More sharing options...
Smitte Posted March 4, 2008 Report Share Posted March 4, 2008 The worst of it all, is that you can do nothing about it!!What is the opinion of the forumates, will the rand strengthen later in the year again, maybe for the 2010 Soccer World Cup or is this a down slide with no stop? Quote Link to comment Share on other sites More sharing options...
elizes Posted March 4, 2008 Report Share Posted March 4, 2008 Not pretty at all! We still have our house sale money that needs to come over, but will now be cut quite a bit... I sure hope it will strengthen a lot! Quote Link to comment Share on other sites More sharing options...
Springbok Posted March 4, 2008 Report Share Posted March 4, 2008 What is the opinion of the forumates, will the rand strengthen later in the year again, maybe for the 2010 Soccer World Cup or is this a down slide with no stop?maybe, maybe not, but I doubt you're going to see 6.00 vs. the Aussie $ in the near future, if ever again. The A$ is extremely strong and is well on its way to parity with the US$ (now at 1.07). The US$ is a basketcase anyway and further rate cuts by the Fed will encourage the carry trade. i.e. Americans selling US$ to buy higher yielding currencies like ZAR and NZ$. Which could support the ZAR somewhat, especially if the SARB hikes rates again, but I think foreigners will rather look at "safer" emerging market currencies than the ZAR. Quote Link to comment Share on other sites More sharing options...
Michele R Posted March 4, 2008 Report Share Posted March 4, 2008 Makes me queezy...every time the Rand drops the whole process becomes more expensive. Quote Link to comment Share on other sites More sharing options...
Pink Missy Posted March 4, 2008 Report Share Posted March 4, 2008 That is no nonsens. Where is this going to end?Some people will never be able to afford it to emigrate! Quote Link to comment Share on other sites More sharing options...
Stepchook Posted March 4, 2008 Report Share Posted March 4, 2008 The worst part is that the problem becomes exponential. As time goes on, people have to lower their asking price for the sale of their houses. But parallel with that, is the exchange rate; so you are getting less money for your house and converting that into fewer AU$ because of a weaker Rand. Reminds me of a line from a poem by WB Yeats:...Things fall apart; the centre cannot hold; Mere anarchy is loosed upon the world... Quote Link to comment Share on other sites More sharing options...
Lynn Posted March 5, 2008 Report Share Posted March 5, 2008 Our problem is we fly on Monday.. so we're kinda out of choices now. But I see the rand has picked up a bit.. not a lot, but a bit. I hear the US$ got a hammering, which has helped the Rand a bit.. not sure how it works, but as long as the graph goes up a bit more before tomorrow, I'll smile. Hi Craig & MelAll the very best for your move which is in progress and your job commencing on the 10th. My thoughts are with you - I am sure that you guys will do well. I cannot remember if I asked you - where did you guys relocate to ? What area of Brisbane - you know what, I think I asked you... just cannot remember.Will chat again - post something on this site letting us know how you are doing...K.rgrdsLynn Quote Link to comment Share on other sites More sharing options...
Dugong Posted March 5, 2008 Report Share Posted March 5, 2008 Which could support the ZAR somewhat, especially if the SARB hikes rates again, but I think foreigners will rather look at "safer" emerging market currencies than the ZAR.Mate, based on the graphs you posted, I think trading the Rand is a thing of the past. In anycase it was only ever really used as a follow the sun treasury balancing act for large banks and cororprates - although it was one of the highest traded, about 10 years ago - over Trillion $ flowed through the Rand, but not as an investement trade, more as a balancing act - good thing we sat between the US and Japan. Doesn't help us to much now though, and the trade agreements/disagreements with Europe may not help this cause either. As you say, neither does the US economy, and I am not sure a rate change will have any effect on the rand in the short term..... anyways, let me not be a prophet of doom - I to hope behond hope that it improves!!!!Now there is a product for an AUS bank, a hedged rand fund for immigrants - since there are over 250,000 and at least 30k-50k a year expected!!! I wan't some com though if anyone tries this!!! Quote Link to comment Share on other sites More sharing options...
Overtaker Posted March 6, 2008 Report Share Posted March 6, 2008 another link...http://www.ozforex.com.au/cgi-bin/chartsFast.asp Quote Link to comment Share on other sites More sharing options...
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