Kath Posted April 4, 2013 Report Share Posted April 4, 2013 Been wondering about the Rand/AUD exchange rate and when's a good time to take money across. Found this graph, which shows how bad the slide is. Thinking if past trends are anything to go by, the sooner we move cash the better. Since January 1999Last 365 days ref: http://www.tititudorancea.com/z/zar_to_aud_exchange_rates_south_african_rand_australian_dollar.htm Quote Link to comment Share on other sites More sharing options...
GideonVD Posted April 4, 2013 Report Share Posted April 4, 2013 Agreed, I'm just waiting for my Australian account to be opened and then I'll be moving over money as and when I got any to move. Quote Link to comment Share on other sites More sharing options...
sianvz Posted April 4, 2013 Report Share Posted April 4, 2013 Oh my gosh we are dying with this exchange rate! Every transaction to do with our visa application is working out to over R10 to the AUD! Quote Link to comment Share on other sites More sharing options...
MandC Posted April 4, 2013 Report Share Posted April 4, 2013 Ugh. Thanks for being the bearer of bad news I try not to think about it, in the vague hope that it would get better. Already stressing as my little savings seem to shrink day by day now...When I first visited Australia in 2005 (or was it 2004?) it was almost R4 to the dollar!! Shocking!! Quote Link to comment Share on other sites More sharing options...
Sa2Nz2Oz Posted April 4, 2013 Report Share Posted April 4, 2013 Just moved our money across with CashKows, the rate was R9.79/Aus $ - Ouch but at least its done now! Fly out tomorrow - JHB -HK-BNE 2 Quote Link to comment Share on other sites More sharing options...
GideonVD Posted April 5, 2013 Report Share Posted April 5, 2013 Safe flight 1 Quote Link to comment Share on other sites More sharing options...
Jacques Voogt Posted April 5, 2013 Report Share Posted April 5, 2013 I'm no economist, but this is how I see it. Hit like if you agree.Exchange.docAUD-ZAR exchange movement.xls 2 Quote Link to comment Share on other sites More sharing options...
jm01 Posted April 6, 2013 Report Share Posted April 6, 2013 seems like the exchange rate is a lot like our leading political party(ies).going down the drain. Quote Link to comment Share on other sites More sharing options...
Bob Posted April 7, 2013 Report Share Posted April 7, 2013 (edited) Some countries around the world are battling with their debt levels and the currency is nose-diving in the process.I guess if Cyprus still had its old Cypriot Pound, and the Greeks their drachma, instead of Euros, they would be pretty worthless right now.I'm in the opposite situation, taking Australian dollars to England and therefore exchanging into Pounds.The old timers on this website remember me four years ago spending nine months in Cambridgeshire and when I first rocked up in Feb 2009, I was getting 430 quid for every 1 000 Aussie dollars I sent over.By the time I left in Nov 2009, that same 1 000 Aussie dollars were buying me 530 quid, an extra 100 pounds.Now in March / April 2013, exchanging 1 000 dollars gets me 680 Pounds Sterling, an extra 250 quid for my Grand. . . . . so, I'm doing right, but the Poms are battling.One thing I found was to get the best rate possible. You don't get that by going into a bank. The ANZ Bank, out of all the main High Street banks in any Australian town, were giving me the best exchange rate, at only 640 Pounds(instead of the 680 I got, in the end), as well as charging me at one end, and Barclay's Bank charging me 25 pounds at the other in England.I stumbled on OzForex, a crowd that deal in exchanging foreign currencies.I don't know if you can get it in South Africa, but for me living for the next six months in Britain and sending thousands of Aussie dollars over during that time, means I shall be using the Foreign Exchange people instead of my local bank for giving me the best return. . . . . and no charges!The main requirement is to have a bank account in both countries (I kept my English Barclay's Bank account open when I left in 2009) to drop the money into when you exchange currencies. If you've got that, then you're cruising to getting the best rate for your Rands, or dollars or Pounds.Ozforex.com.au Edited April 7, 2013 by Bob Quote Link to comment Share on other sites More sharing options...
Joeemm Posted April 8, 2013 Report Share Posted April 8, 2013 Agree Bob the banks in South Africa charge rediculous "service fees" OzForex seems a pretty decent group. Quote Link to comment Share on other sites More sharing options...
Jacques Voogt Posted April 9, 2013 Report Share Posted April 9, 2013 AUD/ZAR currently at R9.34 per $I think it might go to 9.25 before running up again, now is good time to buy.Much better than the R9.82 of a few weeks ago.Still much worse than the R8.90 of 4 months ago.Still much worse than the R7.91 of a year ago. 1 Quote Link to comment Share on other sites More sharing options...
AlBrough Posted April 9, 2013 Report Share Posted April 9, 2013 Still much worse than the R7.91 of a year ago.That is a sad fact but now is certainly the time! Quote Link to comment Share on other sites More sharing options...
MarkSalter Posted April 30, 2013 Report Share Posted April 30, 2013 With a visa app fee of AUD3060, when I first converted although it is almost safe to just work on 1:10, I nearly fell off my chair.No matter how much you bring over. In my case, very little.Say you are wealthy or got lucky on property and you take over R10m, in RSA that is a good amount of money however in Oz, you are lucky to be able to buy 2 average 3 bedroom houses. Ouch.Moral of the story especially in my case. Earn Aussie dollars as soon as possible which means that first massive hurdle of breaking into the job market. Quote Link to comment Share on other sites More sharing options...
Jacques Voogt Posted April 30, 2013 Report Share Posted April 30, 2013 Good time to buy some $Currently at R9.30Dipped to R9.26 earlier this week but I think it will move up again.Could be wrong, but I'd buy now if I could. Quote Link to comment Share on other sites More sharing options...
MarkSalter Posted April 30, 2013 Report Share Posted April 30, 2013 It was R9.37 when we made my AUD3060 visa app payment Quote Link to comment Share on other sites More sharing options...
Sa2Nz2Oz Posted May 1, 2013 Report Share Posted May 1, 2013 When I converted money via CashKows in late March 2013 it was exchanged at a rate of Randts 9.79/1A$, havent checked now but is the Randt/A$ eased a bit? Quote Link to comment Share on other sites More sharing options...
wendym Posted May 2, 2013 Report Share Posted May 2, 2013 According to Nedbank's forex page it is R9.50/A$. I'm sure CashKows could offer a better deal though. Quote Link to comment Share on other sites More sharing options...
Sa2Nz2Oz Posted May 3, 2013 Report Share Posted May 3, 2013 But I think when I moved money across the Randt was at its worst?? Quote Link to comment Share on other sites More sharing options...
AlBrough Posted May 3, 2013 Report Share Posted May 3, 2013 9.18 now 1 Quote Link to comment Share on other sites More sharing options...
derricksmith75 Posted May 14, 2013 Report Share Posted May 14, 2013 I'm just moving to Sydney and moved my Rand to Aus today and got 9.19 which seems to be very good (Standard Bank offered 9.48!). I used Currencies Direct; a friend who used them in the UK told me about them. If you need to move anything that way, send Tim Lewis (tim.lewis@currenciesdirect.com) a e-mail. Quote Link to comment Share on other sites More sharing options...
Jacques Voogt Posted May 15, 2013 Report Share Posted May 15, 2013 It was as low as 9.05 over the weekend.9.11 this morning9.17 right now (5 hours later)I think it is going to go up again. Could be wrong but now would be a good time to move funds in my opinion. Quote Link to comment Share on other sites More sharing options...
MarkSalter Posted May 15, 2013 Report Share Posted May 15, 2013 When we made my visa (the most expensive cost) payment it was around R9.45 Quote Link to comment Share on other sites More sharing options...
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