Sterling vs ZAR has broken through 19 for the first time in over ten years.
As a commodity based currency with the prices of commodities falling owing to less global demand this has caused the huge weakness seen recently.
There have been recent suggestions that the South African credit rating may be downgraded by Fitch but this has not yet happened.
Economic growth forecasts have been cut for this year which has seen a huge sell off and GBPZAR exchange rates hitting the highs.
If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian [email protected]