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Sending cash is less difficult than ever. You can send a variety of foreign currencies to various countries reliably, temporarily, and securely, and at a less expensive rate than most banks. Learn more today.
If you are making plans to travel to South Africa in the near future, you may need to exchange some of your cash for rand, the country’s official currency. The foreign currency symbol is ZAR.
When you type in how many rand you have, the score will be a little different than what you are in USD. An area is used for a comma and a comma for a decimal point. For example, one million US dollars is written as $1,000,000. 00, but one million ZAR is written as R1,000,000. 00.
Also note that travellers carrying more than R25,000 must claim their ZAR when entering South Africa.
This article covers everything you want to know about converting dollars to rands, plus where to locate the most productive exchange rates and how to pay the highest fees for your conversion.
Calculating a conversion from dollars to rand is simple. You can use a currency calculator or do it manually.
Using a currency conversion calculator is the simplest way to get an estimate when converting a currency. Since exchange rates vary daily, using a calculator can ensure the accuracy of your calculations.
Keep in mind that currency exchange comes with additional payouts that a conversion calculator probably couldn’t predict. For example, credit card companies and ATM networks generally charge a 1% conversion payment on all overseas transactions. Individual merchants may also apply additional fees. Payments if you ask them to convert the value of an item to their country’s currency at checkout.
The other option is to perform the calculation manually using an undeniable mathematical formula. However, for this it is necessary to know the existing exchange rate. At the time of writing, $1 USD is worth 18 10 ZAR.
Once you know this information, multiply the amount you have in USD by the existing exchange rate. The number received will show you how much rand you want to spend on your trip.
Suppose you have 800 US dollars and need to know how many rand you have for South Africa. Using the existing exchange rate, your conversion formula would look like this:
800 US dollars x 18. 1 = 14,480 ZAR
When you are in a position to buy rand, plan ahead to ensure you pay as few fees as possible. Here are three tactics to get the currency you want and minimize the fees you’ll be charged:
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