The rand is taking a beating – here are 10 countries where it’s still stronger
The rand has had a tumultuous 2022 so far, weakening sharply in late April, strengthening in mid-June only to weaken once again in recent sessions.
Bianca Botes, director at Citadel Global said that there are four major factors contributing to this, namely; the global environment spurred on by geopolitical events such as the Russia-Ukraine war, the risk of recession, investors looking for safe havens, and people flocking to the dollar.
The rand hit its weakest point against the dollar at the start of July, captured at R16.84 amid fears of a looming global recession.
According to Reuters, South African analysts have cautioned that the rand is not out of the woods yet, noting that the country still faces risk factors that could further weaken the currency.
In afternoon trade on Thursday (7 July), the rand traded at the following levels against the major currencies:
- Dollar/Rand: R16.75
- Pound/Rand:R20.09
- Euro/Rand: R17.05
Below BusinessTech looked at ten countries where R1 is worth more than the local currency as of 7 June 2022.
Because direct currency conversion does not always give a good indication of the general cost of living, we also compared the cost of food, drinks and travel compared to what you would pay locally.
Note: These comparisons have a bigger focus on travel and touring, rather than general living costs. All costs were sourced from Expatistan’s Cost of Living List.
Thailand
Rand/Thai Baht – R1.00/2.15฿
| Product or service | Thai Baht | Rand |
|---|---|---|
| Cappuccino in expat area of the city | 84฿ | R38.90 |
| 1 beer in neighbourhood pub (500ml or 1pt.) | 92฿ | R42.71 |
| Basic dinner out for two | 697฿ | R323 |
| Monthly ticket public transport | 1 331฿ | R617 |
Dominican Republic
Rand/Dominican Peso – R1.00/ RD$ 3.27
| Product or service | Dominican Peso | Rand |
|---|---|---|
| Cappuccino in expat area of the city | RD$ 119 | R36.41 |
| 1 beer in neighbourhood pub (500ml or 1pt.) | RD$ 121 | R37.02 |
| Basic dinner out for two | RD$ 695 | R212.65 |
| Monthly ticket public transport | RD$ 3 070 | R939.34 |
Vietnam
Rand/Vietnamese dong – R1.00 / 1,393₫
| Product or service | Vietnamese dong | Rand |
|---|---|---|
| Cappuccino in expat area of the city | 47 724₫ | R34.24 |
| 1 beer in neighbourhood pub (500ml or 1pt.) | 38 426₫ | R27.57 |
| Basic dinner out for two | 378 508₫ | R271.58 |
| Monthly ticket public transport | 580 555₫ | R416.54 |
Colombia
Rand/Colombian Peso – R1.00/ 259.60COL$
| Product or service | Colombian Peso | Rand |
|---|---|---|
| Cappuccino in expat area of the city | 9 177 COL$ | R35.35 |
| 1 beer in neighbourhood pub (500ml or 1pt.) | 4 026 COL$ | R15.51 |
| Basic dinner out for two | 34 772 COL$ | R133.94 |
| Monthly ticket public transport | 135 527COL$ | R522.05 |
Hungary
Rand/Hungarian Forints – R1.00/ 23.75Ft
| Product or service | Hungarian Forints | Rand |
|---|---|---|
| Cappuccino in expat area of the city | 930Ft | R39.17 |
| 1 beer in neighbourhood pub (500ml or 1pt.) | 724Ft | R30.49 |
| Basic dinner out for two | 10 245Ft | R431.45 |
| Monthly ticket public transport | 8 875Ft | R373.75 |
Indonesia
Rand/ Indonesian Rupiah – R1.00/ Rp893.92
| Product or service | Indonesian Rupiah | Rand |
|---|---|---|
| Cappuccino in expat area of the city | Rp 36 661 | R41.01 |
| 1 beer in neighbourhood pub (500ml or 1pt.) | Rp 38 493 | R43.06 |
| Basic dinner out for two | Rp 224 313 | R250.93 |
| Monthly ticket public transport | Rp 323 684 | R362.10 |
Philippines
Rand/ Philippine Pesos – R1.00/ 3.34 Php
| Product or service | Philippine Pesos | Rand |
|---|---|---|
| Cappuccino in expat area of the city | 147 Php | R44.04 |
| 1 beer in neighbourhood pub (500ml or 1pt.) | 84 Php | R25.17 |
| Basic dinner out for two | 1 451 Php | R434.73 |
| Monthly ticket public transport | 691 Php | R207.03 |
Turkey
Rand/Turkish Lire – R1.00/1.03TL
| Product or service | Turkish Lire | Rand |
|---|---|---|
| Cappuccino in expat area of the city | 27TL | R26.22 |
| 1 beer in neighbourhood pub (500ml or 1pt.) | 35TL | R33.99 |
| Basic dinner out for two | 184TL | R178.67 |
| Monthly ticket public transport | 4 261TL | R4 137.53 |
India
Rand/ Indian Rupees- R1.00/ ₹4.73
| Product or service | Indian Rupees | Rand |
|---|---|---|
| Cappuccino in expat area of the city | ₹186 | R39.36 |
| 1 beer in neighbourhood pub (500ml or 1pt.) | ₹167 | R35.49 |
| Basic dinner out for two | ₹1 373 | R290.52 |
| Monthly ticket public transport | ₹1 133 | R239.74 |
Moldova
Rand/ Molodovan Lei- R1.00/ 1.15 L
| Product or service | Moldovan Lei | Rand |
|---|---|---|
| Cappuccino in expat area of the city | 50 L | R43.48 |
| 1 beer in neighbourhood pub (500ml or 1pt.) | 38 L | R33.05 |
| Basic dinner out for two | 300 L | R26.89 |
| Monthly ticket public transport | 153 L | R133.05 |
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