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CBD . Greenfield developments in this area are extremely rare indeed . The contemporary building , designed by one of Europe ’ s leading architects and features dramatic cantilevered balconies . Of course , if you ’ re planning to invest in either the UK or Portugal in 2021 the GBP / ZAR and EUR / ZAR exchange rates are key .
So , how is the rand performing against the pound and euro ?
Rand Rises as Global Optimism Grows
The rand plummeted in the second quarter of the year 2020 , as global lockdowns sent investors flocking to safehaven currencies like the US dollar . The US dollar when compared to the Rand at the beginning of the year was recorded at 14.3954 , but peaked at a whopping 19.2636 as investors became risk-adverse .
While the weakness in the rand was good news for anyone purchasing Rand , it was bad news for anyone moving funds out of South Africa . Although the pound also struggled amid fears for the UK economic outlook the GBP / ZAR exchange rate still pushed to highs of 23.6062 in April of 2020 .
“ if you ’ re thinking of investing in UK property you may want to wait until the late summer / early autumn of 2021 .”
GBP / ZAR experienced something of a reversal as the year 2020 progressed , falling below 20.0000 in December 2020 before trending around 20.9963 at the time of writing . The Rand ’ s relative strength against the pound means you would get more for your Rand now when moving funds to the UK than you would have for much of last year .
It was a similar story for EUR / ZAR , with the pairing peaking at 20.8571 at the end of last spring , trading solidly for the summer but ultimately reversing gains as the year due to a close . EUR / ZAR is currently trading at 18.2358 .
Protect Your Currency Transfers
If you ’ re investing in the UK or Portugal in 2021 and want to get the best return for your international payments you may wish to discuss your requirements with a leading currency transfer provider .
Currency transfer specialists can keep you informed of the latest exchange rate movements and help you pick the right time to move your money .
With some transfer specialists you ’ ll also gain access to a range of tailored services not available with most banks . This includes free SARS tax clearances , full SARS , SARB and exchange control compliance and completing and sending your exchange control submissions .
You can even use services like rate alerts and forward contracts to target specific exchange rates , all while benefiting from more competitive exchange rates and no transfer fees . Considering your currency transfer options sooner rather than later can make a massive difference , so whatever your plans for 2021 it really pays to talk to the experts early .
SOURCES Currencies Direct , CBRE , LX Living , 50 Shades developments , Norada
SA Real Estate Investor Magazine MARCH 2021 15