The ZAR Exchange Rate Thread

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Do people even go to spur? I have 2 young kids (3 and 2) and not even I go to that ****hole.

Spur is in line with other better restaurants pricing too, why do that? I'd rather have a good meal while sorting kids than eat spur poo in peace.
 
Ah ok, just curious.

PS. Some restaurants extract the transaction cost prior to settling tip ie 10% tip is actually 8.5% at some restaurants(credit cards have a 1.48% cost to merchant). Just something I picked up
 
remybfg10k said:
14.55 USD
21.66 GBP

And I need to buy 5000 GBP soon :(
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How often do you have to do this? Its not the first time I see you posting that you need to buy pounds.

You should consider hedging your positions if you have to buy pounds often thereby effectively locking-in the price at 21.66. There' s many ways to kill this cat.

CFDs, futures, forex.

Of the above futures is probably the easiest to use (if you have a share trading account, I'm almost certain they also trade currency futures).

With the above method you'd pay R1 995 for 1 000 pounds today, so you'll need 5 times that, or R9975 initial margin (or deposit, you get this back when the future expires).

Should the pound's price fall, you will lose money on the future, but you will gain money when you do the actual trade to buy the 5000 pounds. The reverse is also true in that if the pound's value increases than the future will be worth more. This delta then effectively erases the amount that you would have had to pay in when you buy the pounds.
 
biometrics said:
Lol, no.

Let's include starters, mains, wine, desert and tip, using the Spur;) as an example: http://www.spur.co.za/

Starter = R50 x 4 = R200
Main = R120 x 4 = R480
Wine = R120? x 2 (2 glasses each) = R240
Desert = R35 x 4 = R140

Total = R1,060
Tip @ 10% = R106

Bill = R1,166 / R:£21.64 (currently on news24.co.za) = £53.88
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Speaking of Spur, Hussar's Grill has much better food and probably works out cheaper.

Wine Bottle(s) you bring in corkage free = 2xR50 = R100.
Starter = 4xR50 = R200
Main = 4xR170 = R680
Dessert = 4xR40 = R160
Total = R1140
Total + Tip = R1260
 
biometrics said:
Lol, no.

Let's include starters, mains, wine, desert and tip, using the Spur;) as an example: http://www.spur.co.za/

Starter = R50 x 4 = R200
Main = R120 x 4 = R480
Wine = R120? x 2 (2 glasses each) = R240
Desert = R35 x 4 = R140

Total = R1,060
Tip @ 10% = R106

Bill = R1,166 / R:£21.64 (currently on news24.co.za) = £53.88
Click to expand...

Okay fair enough, but a full meal for us is simply mains with a drink. Maybe desert afterwards if we like.

Guess it has been a while since I went out in SA. Still £53 is nothing for all that.
 
YingYang said:
How often do you have to do this? Its not the first time I see you posting that you need to buy pounds.

You should consider hedging your positions if you have to buy pounds often thereby effectively locking-in the price at 21.66. There' s many ways to kill this cat.

CFDs, futures, forex.

Of the above futures is probably the easiest to use (if you have a share trading account, I'm almost certain they also trade currency futures).

With the above method you'd pay R1 995 for 1 000 pounds today, so you'll need 5 times that, or R9975 initial margin (or deposit, you get this back when the future expires).

Should the pound's price fall, you will lose money on the future, but you will gain money when you do the actual trade to buy the 5000 pounds. The reverse is also true in that if the pound's value increases than the future will be worth more. This delta then effectively erases the amount that you would have had to pay in when you buy the pounds.
Click to expand...
Literally only to move the last bit of ZAR I have over to Scotland, right now it's like pulling teeth without anaesthetic.

21.80 to the GBP
 
Data coming out at 13:30 GMT so this could hopefully improve the rate a bit, but by next week I need to cut my losses or risk buying now
 
Exactly. I will be moving as much of my Rands out as soon as I can to the UK account. Try and soften the blow a little...
 
On the plus side, when I come back to visit South Africa on holiday in 2017, my Euros will go veeeeeeeery far :)
 
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