Exchange rate US and SA

[JamieD]

Can anyone tell me the exchange for rand and dollars when I went last it was 7 to 8 rand to a dollar. Is it still in that area? Thanks for any help.

 

[Hogpatrol]

.092 rand to the dollar according to a websearch

 

[Diamondhitch]

Its more like 11:1 right now

 

[Hogpatrol]

Its more like 11:1 right now

Is that in country or in the U.S.?

 

[Diamondhitch]

Is that in country or in the U.S.?

Interbank rate. Every bank will have a percentage plus fees that they keep for themselves. My bank charges 2.5%, that's why they make billions.

 

[James.Grage]

+1
Rate at closing today 1 USD = 10.85 rand.
When I purchased some in January the exchange was at 1= 10.43 an when I went to pick up my money after it was ordered in what i received with the bank fees it came out to 1 = 9.85.

Interbank rate. Every bank will have a percentage plus fees that they keep for themselves. My bank charges 2.5%, that's why they make billions.

 

[BRICKBURN]

US Treasury says:

SOUTH AFRICA - RAND 10.4800
Treasury Reporting Rates of Exchange


Your bank, you'll find out when you order.
Like James noted. Big difference between little guy rates and trading guy rates.

 

[JamieD]

I was looking more for the Jo Blow rate if your in SA and want to buy a meal and pay in dollars.

 

[firehuntfish]

Believe it or not, the best exchange rates are usually found at ATM machines in RSA. If your bank card is in the Cirrus network(which most are) you get a much better exchange rate than the currency exchanges at the airports. In fact, they are usually the worst. The conscession to ATMs is that you are usually limited to $300/day in U.S. Dollars withdrawl....

 

[James.Grage]

HI JamieD
You will find that your credit card will work (if activated). I did not find business outside the airport that wanted USD. The small business man does not get a very good exchange rate in South Arica. So pay by CC or Rand's. Or take a good hit on the exchange if it is offed to you.
As mentioned plan ahead and have some South African money in your pocket.

I was looking more for the Jo Blow rate if your in SA and want to buy a meal and pay in dollars.

 

[Areaonereal]

Does the exchange rate between $ and rand benefit the outfitter since the US dollar is so strong against the rand when all prices are quoted in $, compared to the pricing earlier in the booking season. Dollar has gained over 12 per cent against the rand since December 2013.

 

[spike.t]

. The conscession to ATMs is that you are usually limited to $300/day in U.S. Dollars withdrawl....

$300 equivalent in rand will go a very long way dining in SA

 

[spike.t]

Does the exchange rate between $ and rand benefit the outfitter since the US dollar is so strong against the rand when all prices are quoted in $, compared to the pricing earlier in the booking season. Dollar has gained over 12 per cent against the rand since December 2013.

its swings and roundabouts, when the dollar went down against the rand they lost out now they are gaining some. there have been some offers recently by outfitters/phs due to the favorable exchange rate.

 

[Diamondhitch]

there have been some offers recently by outfitters/phs due to the favorable exchange rate.

Exactly what I was thinking

 

[BRICKBURN]

I was looking more for the Jo Blow rate if your in SA and want to buy a meal and pay in dollars.

That will be up to the establishment you show up at.
You can negotiate on the spot.
Know the general day rate from the bank when you show up and go from there.

 

[SafariA]

Best option for regular purchases is a credit card ..... You can also use a debit card and draw cash at ATM . I would suggest credit card as this is the safest option . You will get good value for your USD at the moment
!!!

 

[KWALATA SAFARIS]

Best option for regular purchases is a credit card ..... You can also use a debit card and draw cash at ATM . I would suggest credit card as this is the safest option . You will get good value for your USD at the moment
!!!

Uncle Richard could not agree more !

My best always.

 

[accipiter]

In JNB airport, does the ATM provide a better rate than the cash exchange booths? In my experience ATMs generally always provide better rates, but there are exceptions where the cash booths are slightly better. Do most South African ATMs have Cirrus or Plus networks?

 

[spike.t]

In JNB airport, does the ATM provide a better rate than the cash exchange booths? In my experience ATMs generally always provide better rates, but there are exceptions where the cash booths are slightly better. Do most South African ATMs have Cirrus or Plus networks?

its your credit card provider that decides the rate on the day your transaction goes through not the atm machine. you will see this on your credit card statement when you receive it. on different days the rate will vary. some credit card providers also make charges for use overseas for taking cash from machines. if you are only wanting 2-400 usd in rand get it from your bank or change at a bank in joburg if you can. dont change at airport foreign currency booths as they are the worst rates you can get. also airside in joburg int terminal there arent any atms at all, presumably to stop SA residents taking too much money out of the country.

 

[SafariA]

its your credit card provider that decides the rate on the day your transaction goes through not the atm machine. you will see this on your credit card statement when you receive it. on different days the rate will vary. some credit card providers also make charges for use overseas for taking cash from machines. if you are only wanting 2-400 usd in rand get it from your bank or change at a bank in joburg if you can. dont change at airport foreign currency booths as they are the worst rates you can get. also airside in joburg int terminal there arent any atms at all, presumably to stop SA residents taking too much money out of the country.

Spike yes the credit card companies may charge for a cash withdrawal but. On regular purchases it is the best option . There are definitely quite a few ATM's . They are located at all the major banks on the first level . South Africans would not take rand out of the country . You can only get rand at ATM. Hope this helps .