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1599853 No.1599853 [Reply] [Original]

My Currency (Rand ZAR) is at it's strongest level against the Dollar in over a year - I'm planning a trip oversees next year, would it be worth my while buying dollars now and how would I go about it?

>tl;dr how do I buy dollars

>> No.1599902

>>1599853
Election is hitting in 5 days, depending on who gets elected the dollar is going to be effected. So tough to give you a good answer.

side note, whats the best board for OP's pic related, ive only seen one other one on /b/ and im p interested in it

>> No.1599932

lmao

You will need more than 1/10 of an acre!

>> No.1600718
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>>1599902
I know it is elections, that is why I want to prepare and buy dollars next week.

I went to my local bank's website and there I can open a global account and buy through them or go to a foreign exchange.

I really think we (ZAR) is going to drop wiht our political instability and an imminent downgrade to junk status so November is the time to buy dollars desu

You get these pics from the /out/ farming/infographic threads.

>> No.1600724
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1600724

>> No.1600725
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These are all the ones I saved.

>> No.1600732

It's hard to buy dollars without arbitrage cost.

Do you want hard money in hand? Well then you have to go to a bank or, god forbid, a currency broker.

I don't know the laws on capital controls in SA. You may be able to invest in a dollar-based money market fund via Vanguard for example. But they may be restricted in foreign countries.

If you just want to diversify out of ZAR/Dollar risk, you can invest into your local currency stock market. Usually when ZAR depreciates, the local currency stock market holds its ground while the dollar-based local stock market gets crushed.

Personally, I don't think ZAR/Dollar is going to change enough to make your move worth it. There's always hidden arbitrage costs.