1 ZAR To USD
Convert South African Rand To United States Dollar

If you’re planning a trip to the United States in the near future, you may want to exchange some of your money into the United States dollar, the country’s official currency. The international symbol for the currency is USD.

The U.S. dollar is a global reserve currency, which means foreign central banks hold it in their reserves in addition to their own currency. USD is used in about 40% of global trade and nearly 80% of all global cross-border transactions, according to financial services firmSchwab.

This post has everything you need to know about converting South African Rand (ZAR) to USD, including where to secure the best exchange rates and how to avoid paying high fees on your conversion.

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How to Convert ZAR to USD

Calculating a conversion of ZAR to USD is fairly simple. You can either make the conversion using a currency calculator or by hand.

1. Use a Currency Calculator

Using a currency conversion calculator is often the easiest way to get an estimate when you’re converting currency. Since exchange rates fluctuate on a daily basis, using a calculator can ensure your math is correct.

Keep in mind that exchanging currency often comes with added fees that a conversion calculator won’t be able to predict. For instance, credit card companies and ATM networks usually charge a 1% conversion fee on all foreign transactions. Individual merchants may also charge supplemental fees if you ask them to convert the price of an item to your home currency at checkout.

2. Calculate it Manually

The other option is to do the calculation manually using a simple mathematical formula. However, in order to do this, you need to know the current exchange rate. At the time of writing, R 1 is worth $0.056 USD.

Once you know that information, multiply the amount you have in ZAR by the current exchange rate. The resulting number will show you the amount of USD that you have to spend on your trip.

Manual Currency Conversion Example

Let’s say you have R 1,000 and would like to figure out how much dollars you have for a trip to the U.S. Using the current exchange rate, the formula for your conversion would look like this:

R 1,000 x 0.056 = $56 USD

How to Buy USD

When you’re ready to buy USD, it’s a good idea to plan ahead to ensure that you pay the fewest fees. Here are three ways to get the currency you need while minimizing the fees you’ll be charged:

• Exchange at Inter Africa Bureau de Change: You can purchase USD at the Inter Africa Bureau de Change (authorized by the South African Reserve Bank), but you must bring specific documentation to prove the details of your trip. Required documents include a valid passport or South African I.D., proof of address no more than three months old and a copy of your flight ticket to the U.S. You can only purchase foreign currency up to 60 days before your departure.
• Order currency online: You can request USD online and have it delivered to you or pick up at a local branch. However, be aware of inflated costs with these services. Standard Bank, for instance, advertises that it allows anyone, not just its customers, to order foreign currencies from it. Keep in mind that there are fees, including a 2.3% fee and a R 74.55 administrative fee.
• Use an ATM abroad for withdrawals: If you need to exchange more money while you’re on your trip, you can do so at an ATM. Be sure to check the fine print with your banking agreement to understand any exchange rate charges and out-of-network charges you may incur during a foreign ATM withdrawal.

If you don’t spend all of your USD on your trip, you have 30 days upon your re-entry to South Africa to sell it back to an authorized dealer.

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What to Avoid When Exchanging Currency

• Exchanging currency at the airport: While exchanging currency at the airport is unquestionably convenient, these kiosks often offer some of the worst exchange rates while charging some of the highest fees.
• Exchanging currency in a street kiosk: Some major American cities offer exchange kiosks that look like ATMs that allow you to exchange currency while on the go. Still, you’ll likely pay a premium to use one of these convenient locations.

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