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Cali Craft and Gems

Dollar vs rand - I'm in a pickle!

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Cali Craft and Gems

We usually don't accept any other currency besides ZAR in our store but I made the exception last week for a gent from China who has been at our local flight academy and was heading home this week. He wanted gifts for his family (the trainee pilots are here for two years before graduating to go back to China Airlines) but did not have any Rands on him - the bank only provided him with US Dollars considering he was leaving within a few days.

 

My problem now is that firstly there is only one exchange bureau in town (at the Cango Caves) and they offer peanuts (+-R9 to $1) to buy the Dollars plus still charge about R700 fee on top of it all... so that's out of the question.

 

I then phoned the bureau in George hoping that they could assist and was informed that I was not allowed to accept the Dollars without a special licence and as such that they refused to do the exchange for me.

 

I then contacted our local Nedbank (where my accounts are) and this branch does not accept foreign currency. Only ABSA and FNB can exchange it, but if I don't have an account with them, they won't help either.

 

Which leaves me in quite a pickle! Firstly I made a mistake with the calculation on the goods by charging R11 per $1 so I lost out on the deal immediately (only realised later that I should have calculated it out at around R10.50 if not slightly less - idiot!). Now I'm sitting with $500 where I need the Rands so that I can complete my paperwork / figures for the month. (yip - a real mess!)

 

My question therefore is - is there anyone here who is going to be travelling soon and would like to "trade" the $ for R's? Or can anyone advise me towards a better direction? (we are planning a trip to Cape Town in about 6 weeks if I should hold out and try and exchange it there)

 

Please help... Thank you!

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alloway65

Another problem you will have with banks etc is that if the notes are over a certain age then photo copies of the notes are made and sent “somewhere” to check whether the notes are still legal tender or not.

 

This happened to me last year when I cashed in US Dollars I had in my possession. It took about a week to clear my US notes and fortunately all my notes were OK.

 

Good luck.

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Cali Craft and Gems

Thankfully these notes are new - they weren't even creased yet!

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Little Miss Muffet
Another problem you will have with banks etc is that if the notes are over a certain age then photo copies of the notes are made and sent “somewhere” to check whether the notes are still legal tender or not.

 

This happened to me last year when I cashed in US Dollars I had in my possession. It took about a week to clear my US notes and fortunately all my notes were OK.

 

Good luck.

USA dollars no matter how old can still be used.I gave my son, among other coins, a 1920 silver dollar and it was accepted as current. Silly to use it but it can be used as currency.

Cali if it was pounds I would exchange it for rands

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Not1CentMore

Please check PM.

 

Ruthie

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