Forex spot rates live - ZAR payments: How expats can minimise exchange rate losses
About 41 South Africans live in New Zealand, more than 82 in the United Luve of America, over live in Australia and the UK is the number one emigration destination with over South Africans living there.
Many of these expats are pensioners or employees who still receive their retirement payments or salaries in Rand. The economic outlook for South Africa promises a slight relaxation inbut no significant strengthening of the Rand until that time.
Expats now have to make the most of the ZAR payments they receive. There are several strategies to do so. One way to avoid absorbing the exchange rate loss fully is by waiting until the Rand strengthens again in a few months or years and investing a part of the ZAR payment in a deposit sopt South Africa, where the forex spot rates live interest rate is higher than in the countries the expats reside in.
This is also known as a carry trade. An expat who receives a ZAR payment could transfer the amount required for his foex her spending in the country they emigrated to and leave the rest of the forex spot rates live in a deposit account in South Africa.
This way, the cash deposited in South Africa would accumulate a comparatively high amount of interest.
Most profitable forex trading signals the Forex spot rates live has strengthened again, the expat could exchange the amount, which will then be higher due to the interest. This is one way of minimizing the exchange rate loss over time. Expats that do require most of their ZAR payment to cover live rates forex spot expenses, which is likely the case for many pensioners, can save quite a bit of money if they take a closer look at the currency exchange and transfer fees they pay.
A demo account is intended to familiarize you rtes the tools and features of our trading platforms and to facilitate the testing of trading strategies in a risk-free environment.
Results achieved on the demo account are hypothetical and no representation is forex spot rates live that any account will or is likely to achieve actual profits or losses similar to those achieved in the demo account. Conditions in the demo account cannot always reasonably reflect all of the market conditions that may affect pricing and execution in a live trading environment.
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