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Understanding the Table:
The comparison table above helps you see the total cost of your currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of available providers, simply enter your transaction type, details and click ‘GET RATES’.
Sending money to South Africa can be an expensive business, more so if you aren’t even aware of all the hidden fees. Money transfer companies and banks profit by charging you fees and a normally hidden margin on the exchange rate.
Using your Bank to make international wire transfers to India can be especially expensive – often 5% to 10% worse than using a foreign exchange specialist to send to South Africa bank accounts or pay a South African rand invoice.
US dollar (USD) to South African rand (ZAR) market data - latest interbank exchange rate, trend, chart & historic rates.
USD/ZAR Outlook: Bearish, as the rate is below its recent average and near recent lows, influenced by the overall strengthening of the South African Rand.
USD/EUR Outlook: Slightly weaker, but likely to move sideways, as the rate is below its recent average and near recent lows with no strong driver influencing a change.
USD/JPY Outlook: Slightly positive, but likely to move sideways as the rate hovers near its recent average, lacking a clear driver for movement in either direction.
To help you understand the real-world value of the current exchange rate, the table below shows how much US dollar are worth in South African rand across a range of amounts.
This gives a quick view of what you’d get when converting different USD amounts at today’s rate * :
*Converted at the current USD-ZAR interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
The best USD to ZAR exchange rate is 15.96 from OFX . This is -0.5% compared to the mid-market rate 16.04.
As exchange rates can vary significantly between banks and also between currency exchange providers, it's therefore important to carefully compare US dollar (USD) to South African rand (ZAR) rates from different sources before making a conversion.
The above Dollar to Rand comparison table makes it easy to compare the Total Fees (both variable and fixed) you are being charged by banks and other foreign exchange providers against the latest USD-ZAR mid-rate and the possible savings of using various providers.
Looking at the full USD to ZAR - Send Money comparison table the provider with the best USD to ZAR exchange rate is OFX at 15.96, -0.5% from the latest mid-market rate 16.04.
The next best is XE at 15.94, -0.62% from the mid-rate.
Then Western Union at 15.88, which is -1% from the mid-rate.
Among the banks the Chase Bank rate is 14.92 at -7% the Wells Fargo Bank rate is 14.87 at -7.3% and the Citibank rate is 15.61 at -2.7% compared to the mid-rate 16.04.
It's important to note that exchange rates also fluctuate frequently due to market conditions. Additionally, banks and foreign exchange providers often apply a margin to the exchange rate, resulting in a less favorable rate for customers compared to the mid-market rate. For more competitive rates, you might consider using a specialized currency exchange service or platforms that offer rates closer to the mid-market rate.
View a full list of exchange rates by selecting your Base (from) currency:
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