duToits Posted October 8, 2008 Report Share Posted October 8, 2008 At the moment the market is in turmoil. Rand to US$ just crossed R9.00 this morning. Does anyone know how that will affect containers/shipping, as this is quoted in US$ and this might push up the costs of sending a container? Quote Link to comment Share on other sites More sharing options...
avi Posted October 8, 2008 Report Share Posted October 8, 2008 WED MORNING 9am...1aus dollar =R6.22!!!!!Used TREASURY ONE a week ago...best rates and excellent service!They should quote you around R6.32 and no other extra fees. Quote Link to comment Share on other sites More sharing options...
Zack Posted October 8, 2008 Report Share Posted October 8, 2008 Only reason for the ZAR strength vs AUD is because Oz cut the Interest Rate already, all countries are expected to follow. It only a matter of time before the ZAR falls through the floor vs the AUD. It's happened vs the EUR & U$D. Rough times ahead.Z Quote Link to comment Share on other sites More sharing options...
Springbok Posted October 16, 2008 Report Share Posted October 16, 2008 It only a matter of time before the ZAR falls through the floor vs the AUD. It's happened vs the EUR & U$D. Rough times ahead.only a matter of time indeed, mate! the ZAR hit 5.97 vs. AUD last Friday, today it went as low as 7.18, so a 20% drop in less than a week.The one-way bet is on again...From Bloomberg.com:Rand Little Changed Versus Dollar After Biggest Drop Since 19942008-10-16 06:09:55.830 GMTBy Antony Sguazzin and Janice Kew Oct. 16 (Bloomberg) -- South Africa's rand was little changed against the dollar, a day after plunging by the most since at least the end of apartheid in 1994 on concern a global economic slump will depress demand for the country's exports. The rand sank as much as 18 percent in the final hours of trading yesterday as U.S. stocks dropped by the most since the crash of 1987 amid speculation a global recession is looming.Equities tumbled today in Asia and U.S. stock index futures slid. "This was an unbelievable blowout," said Marc Copeland, a Cape Town, South Africa-based currency trader at Investec Asset Management, which oversees about $60 billion. "Investors are scrambling for money, they have been hurt everywhere around the world and they are getting out of these emerging markets because they are too risky." South Africa's currency dropped 2.1 percent to 10.8749 per dollar as of 7:52 a.m. in Johannesburg, extending yesterday's 17 percent rout. The rand was lower against 13 of its 16 major counterparts, slipping 0.8 percent against the euro to 14.4396, after losing 15 percent yesterday. The prices of commodities, which South Africa relies on for export income, slumped. The UBS Bloomberg Constant Maturity Commodity Index of 26 raw materials fell 4.7 percent yesterday.Platinum, which competes with gold as South Africa's biggest export, slipped 2.5 percent in Asian trading today. The rand may weaken to 13 per dollar, Copeland said. He didn't give a timeframe. The falling currency is clouding the inflation outlook in South Africa, Tito Mboweni, the country's central bank governor, said late yesterday in a speech in the capital, Pretoria. "It's a terrible situation to be in," he said. Quote Link to comment Share on other sites More sharing options...
Bren&Nick Posted October 16, 2008 Report Share Posted October 16, 2008 Hi Thanks for this I have a preservation fund and it has lost nearly 7.5 % of its valua in 2 months - Any advise - do i cash in now as i need this to pay the airfare, container and other relocation costs and transfer the balance asap to an OZ bank.or Do i wait for 4-5 months in hope that things will turn and it might improve slightly. Brenda Quote Link to comment Share on other sites More sharing options...
MarcK Posted October 23, 2008 Report Share Posted October 23, 2008 Update :1 Oz $ = 7,46 Rand !!!!!! Quote Link to comment Share on other sites More sharing options...
Eva Posted October 23, 2008 Report Share Posted October 23, 2008 And I promised myself I wasn't going to look at this until we were ready to buy currency!Can't resist! Quote Link to comment Share on other sites More sharing options...
JanCPT Posted October 23, 2008 Report Share Posted October 23, 2008 Eina!!!! ... just transferred some cash @ 7.80 ... meant to do it 2 weeks ago when the rate was about 6.30 & was too bloody lazy to get off my butt & go to the bankJust my bloody luck if it turns again tommorrow .... Quote Link to comment Share on other sites More sharing options...
celeste Posted October 23, 2008 Report Share Posted October 23, 2008 Hah Eva I said the same thing to myself and have avoided this thread over the past few days...but then gave in to curiousity. Ouch! It is really, really bad!! Quote Link to comment Share on other sites More sharing options...
georgie 1 Posted October 24, 2008 Report Share Posted October 24, 2008 http://www.xe.com/ucc/ Quote Link to comment Share on other sites More sharing options...
RyanO Posted October 24, 2008 Report Share Posted October 24, 2008 I've been watching the rate 50 times a day getting more and more depressed.The buyer of our house took his time paying in the deposit which delayed the transfer by two weeks.So we ended up getting our money out two weeks later.This now means we get to exchange our Rands at R7.50 something instead of R6.50 something which it was two weeks ago.This on top of the R50k less than our asking price that he paid.I know this has been asked before, but has anyone figured out a way to bring money across once you are already there? Once the rate has hopefully improved. I'm not talking millions, travel allowance sum of money. Quote Link to comment Share on other sites More sharing options...
ChristineC Posted October 24, 2008 Report Share Posted October 24, 2008 (edited) I know this has been asked before, but has anyone figured out a way to bring money across once you are already there? Once the rate has hopefully improved. I'm not talking millions, travel allowance sum of money.You can fill out a transfer instruction form and leave it with someone in South Africa to hand in to your bank when you want the money transferred from SA to Australia. You can probably do the same using Treasury One or another forex specialist. Just arrange it before you leave SA.-Daniel Edited October 24, 2008 by ChristineC Quote Link to comment Share on other sites More sharing options...
niemeerhier Posted October 24, 2008 Report Share Posted October 24, 2008 Just a minor correction Quote Link to comment Share on other sites More sharing options...
Arleneg75 Posted October 24, 2008 Report Share Posted October 24, 2008 I've been watching the rate 50 times a day getting more and more depressed.The buyer of our house took his time paying in the deposit which delayed the transfer by two weeks.So we ended up getting our money out two weeks later.This now means we get to exchange our Rands at R7.50 something instead of R6.50 something which it was two weeks ago.This on top of the R50k less than our asking price that he paid.I know this has been asked before, but has anyone figured out a way to bring money across once you are already there? Once the rate has hopefully improved. I'm not talking millions, travel allowance sum of money.Yes, you organise with Treasury one. Just make sure you hand in all the necessary documentation before you leave SA and organise with the bank that you can do a big transfer using internet banking. Then you can transfer after you left. Quote Link to comment Share on other sites More sharing options...
duToits Posted November 25, 2008 Report Share Posted November 25, 2008 I have been following the exchange rate very closely, because we are about to start sending and changing our few rands. It has steadily come down over the past few days. The latest rate on www.xe.com Live rates at 2008.11.25 11:08:44 UTC 1.00 AUD = 6.30489 ZAR Australia Dollars South Africa Rand 1 AUD = 6.30489 ZAR 1 ZAR = 0.158607 AUD Quote Link to comment Share on other sites More sharing options...
Brisbane wannabe Posted November 25, 2008 Report Share Posted November 25, 2008 Absa are offering R6.62 per transfer and Amex is offering R6.59 as at this morning. (Them Selling)BW Quote Link to comment Share on other sites More sharing options...
duToits Posted November 25, 2008 Report Share Posted November 25, 2008 FNB is still at about R6.55, online purchase. Quote Link to comment Share on other sites More sharing options...
GerhardinOz Posted November 25, 2008 Report Share Posted November 25, 2008 If you have Vista just get the currency gadget Quote Link to comment Share on other sites More sharing options...
Rover Posted January 5, 2009 Report Share Posted January 5, 2009 Here's a nice currency graph for everybody to cry over (except those lucky enough to already be in Oz) - Yahoo Finance Quote Link to comment Share on other sites More sharing options...
Eva Posted January 6, 2009 Report Share Posted January 6, 2009 Goody, I can look here again, now that we actually have to buy currency.Yay!!!!!!!! Quote Link to comment Share on other sites More sharing options...
georgie 1 Posted January 6, 2009 Report Share Posted January 6, 2009 Thanks Rover Quote Link to comment Share on other sites More sharing options...
mullerwh Posted January 8, 2009 Report Share Posted January 8, 2009 This links works for me, but beware if you use a SA credit card overseas or withdraw cash expect a R0.20 added to the exchange rate.http://www.xe.com/ucc/convert.cgi?Amount=1...p;template=CRM1Werner Quote Link to comment Share on other sites More sharing options...
Pretorius Posted February 24, 2009 Report Share Posted February 24, 2009 The Rand seems to have strengthened quite a bit tonight... this must be a good time to change those rand to Aussie dollars... Quote Link to comment Share on other sites More sharing options...
GTrotter Posted April 28, 2009 Report Share Posted April 28, 2009 Some good news the rand has been strengthened quite a bit in the last few weeks comaring the interbank rate as of today to the rate about a year ago our hard earned rands will buy about 14% more Aussie Dollars. AUD/ZAR Cross04/22/2008 7.3216 04/28/2009 6.3039 14% Quote Link to comment Share on other sites More sharing options...
Marilize Posted April 29, 2009 Report Share Posted April 29, 2009 Wednesday, April 29, 20091 Australian Dollar = 6.20553 South African Rand 1 South African Rand (ZAR) = 0.16115 Australian Dollar (AUD) Interbank rate +/- 0%This means:You buy 1 Australian Dollar : 6.20553 South African RandYou sell 1 Australian Dollar : 6.18542 South African Rand You buy 1 South African Rand : 0.16115 Australian DollarYou sell 1 South African Rand : 0.16167 Australian Dollar Median price = 6.18542 / 6.20553 (bid/ask)Estimated price based on daily US dollar rates. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.