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Exchange and Currency

Money and Conversion Rates

South African notes and coinsThe currency is the Rand (ZAR), divided into 100 cents (c). Notes are in denominations of R200, R100, R50, R20 and R10. Higher value notes are slightly larger in physical size than small value notes. All notes have a metallic security strip and a watermark. Note that there are two types of R5 coins in circulation. One is a silver-colored coin while the other is silver-colored with a copper insert. Both are legal currency.

Coins are in denominations of R5, R2, R1, 50c, 20c, 10c and 5c. Production of 2c and 1c coins was suspended in April 2002, but those still in circulation remain legal tender. All transactions are rounded down to the nearest lower 5c, so as not to require the use of 2c and 1c coins.

Rough conversion rates are: 10:1 (USD), 13:1 (EUR) and 17:1 (GBP). Carry one of the above currencies, as conversion between any of them and the Rand can be done at any bank without trouble. South Africa is part of the Southern African Common Monetary Area and the Rand can be used in Namibia (where it is an official currency along with the Namibian Dollar) as well as Lesotho and Swaziland (where it is widely accepted, but not an official currency)

Traveler's Checks are a safe way of carrying money around. You can exchange them at all banks (you will find one even in the roughest places) and you will get a refund if they are stolen. The disadvantage is that you cannot pay with them and you will need change when exchanging them into Rand. Use ATMs instead if possible.

Automated teller machines (ATMs), linked to all major international networks, are available throughout the country and will generally dispense money in a mixture of denominations between R200 and and R10, with about 80% of the value requested being high value notes and the rest in smaller denominations. You can use any Cirrus or Maestro card as well as all major credit and debit cards at the ATMs.

It is best to use only ATMs that are inside a mall or other building. Always be careful to make sure no one is watching you enter your PIN, and be vigilant about scams (e.g. machines that seem to eat your card and won't give it back after you enter the PIN). The till points at some major retail stores (such as Pick 'n Pay) also act as ATMs; simply tell the checkout clerk that you would like to withdraw money.

 

 

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