Exchange Rate Australian Dollar To South African Rand
When travelling to South Africa from Australia, it's important to know the current exchange rate between the Australian dollar and the South African rand. The exchange rate is the value of one currency in relation to another, and it can fluctuate daily based on various economic factors.
Factors Affecting Exchange Rate
Some of the factors that can affect the exchange rate between the Australian dollar and the South African rand include:
- Interest rates set by the Reserve Bank of Australia and the South African Reserve Bank
- Inflation rates in both countries
- Political stability in both countries
- Trade balances between the two countries
These factors can cause the exchange rate to fluctuate, so it's important to keep an eye on the current rate before travelling to South Africa.
Current Exchange Rate
As of August 2021, the current exchange rate between the Australian dollar and the South African rand is:
1 AUD = 11.12 ZAR
This means that for every one Australian dollar, you can get 11.12 South African rand. However, it's important to note that this rate can change daily, so it's always best to check the most up-to-date rate before exchanging currency.
Where to Exchange Currency
There are various places where you can exchange your Australian dollars for South African rand, including:
- Banks
- Currency exchange bureaus
- Airports
- Hotels
It's important to compare exchange rates and fees at different locations to get the best deal. Some places may charge higher fees or offer lower exchange rates, so it's worth doing your research beforehand.
Tips for Exchanging Currency
Here are some tips to keep in mind when exchanging your Australian dollars for South African rand:
- Exchange only the amount you need, as exchanging large amounts can be risky and result in losses if the exchange rate changes
- Compare exchange rates and fees at different locations to get the best deal
- Avoid exchanging currency at hotels or airports, as they often charge higher fees
- Consider using a credit or debit card that doesn't charge foreign transaction fees instead of exchanging currency
Conclusion
Knowing the current exchange rate between the Australian dollar and the South African rand is important when travelling to South Africa. Factors such as interest rates, inflation rates, and political stability can affect the exchange rate, so it's important to keep an eye on the rate before exchanging currency. Compare exchange rates and fees at different locations to get the best deal, and consider using a credit or debit card that doesn't charge foreign transaction fees instead of exchanging currency.