Lifestyle

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

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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

Read: Businesses need to be ready for more riots in South Africa: insurer

Artmotion S.Africa

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