South African money and payment options

So how do you spend your hard earned cash in South Africa? Well South African currency is the Rand. The Rand has been a relatively stable currency over the past few years even though it has taken a bit of a dip recently owing to the credit crunch! Apparently Americans that invested their US dollars in the local share market decided to withdraw their cash to safer territories like the US. My gosh what a joke, you yanks caused this in the first place and at the moment we seem in better shape than you, but you would rather take your money out and invest in the Dow! Anyhow things seem to have settled down with the Rand at about R10 to the US dollar. Whether it will go up or down is anyone’s guess. South Africa has a number of major banks that will exchange your forex. In addition most merchants, shops and restaurants accept Visa and MasterCard, so bring your credit card and you won’t have much trouble. ATMs are also widespread allowing you to draw cash with you Visa / MasterCard.