Rand Rally: Best Time in Years to Buy USD?

The rand is up nearly 14% against the USD over 12 months, the best it’s been since 2022.

“This is the best time in years to be buying USD,” says Faadil Moti, CEO of 80eight, a licensed Treasury Outsourced Company (TOC) and financial services provider (FSP).

80eight is offering zero SWIFT fees for three months – and forex transaction fees that are 50% below that of banks.

The message is clear: avoid the banks if you want to get the best rates.

“We’ve noticed a sharp increase in demand for USD from businesses and individuals who are keen to capitalise on these improved exchange rates. As South Africans, we are so accustomed to a weakening currency that many people believe it cannot last. That seems to be part of our DNA.”

The ZAR currently trades around R16.04 to the USD and some forecasts suggest it could strengthen to around R15.40/$ by the end of the year, but many see a strong incentive to lock in favourable rates now.

Moti outlines five reasons why buying USD now makes sense.

1. The ZAR won’t strengthen forever: “While the ZAR may show further gains against the USD in the short term, history tells us that the dollar over the longer term is the stronger currency. We should not assume the ZAR will strengthen forever. Now would be a good time to buy dollars with fewer rands.”
2. Importers can lock in favourable rates today for future payments. “Many smart businesses use these periods of ZAR strength to build USD reserves or lock in favourable exchange rates. This is especially true now that we have seen the ZAR appreciate against the USD. Businesses cannot predict where rates will go, so they take advantage of favourable rates when they arise.”
3. Make use of your R11 million a year foreign currency allowance to diversify your portfolio. All South Africans are entitled to the R1 million a year Special Discretionary Allowance (SDA) and an additional R10 million a year foreign investment allowance, provided they receive tax clearance from South African Revenue Service (Sars). This is an ideal time to diversify portfolios and capture some ZAR gains through exposure to stocks such as Amazon, Microsoft and Tesla, as well as offshore exchange traded funds, that are not available locally. If you already hold offshore assets, this is a good time to top up.
4. Hedge against uncertainty: The SA economy is improving but it is by no means on a tear. Geopolitical risks – with the US amassing war ships off the coast of Iran – are on the rise and this could pose serious danger to the global oil supply and disrupt vulnerable economies such as SA. Holding some USD as a hedge against domestic and international risks makes sense.
5. Protection against imported inflation. Inflation is around 3.5% and trending towards the SA Reserve Bank’s 3% target, but this could change should the ZAR give up some of its gains. Holding USD cushions against such spikes and preserves purchasing power for USD-priced essentials.

How to claim your zero SWIFT fee period

The process is straightforward: download the 80eight app, complete the simple onboarding, and start transacting.

New users automatically qualify for three months of zero SWIFT fees on all cross-border payments.

No minimum transaction amounts, no hidden catches – just immediate savings on every international transfer you make.

How 80eight is able to beat bank rates by up to 50%

So how does 80eight consistently beat bank rates by such wide margins?

The platform combines cutting-edge technology with human expertise:

• Bulk transaction pooling for better forex rates;
• Dedicated human consultants (no chatbots);
• Full transparency and regulator-compliant records; and
• A single low fee, with no bank switches required.

Human touch combined with cutting-edge tech

Banks’ attempts to automate forex services often lead to frustrating loops.

80eight overcomes this by allocating account managers to each client – account managers who understand your business, handle regulations, taxes, and logistics – all at no extra charge.

This outsourced treasury expertise supports complex cross-border needs.

Financing and global networks for SMEs

80eight offers SME financing to fuel trade and expansion, plus access to a network of over 30 000 trusted international businesses across the Middle East, Asia, and Europe – opening new suppliers and markets.

By eliminating SWIFT fees for the next three months, slashing spreads permanently, providing financing, and connecting clients globally, 80eight makes cross-border payments and trade more affordable and accessible for South Africans.

All of this is now available on the 80eight app.

80eight operates as a licensed Treasury Outsourced Company (TOC) and an authorised financial services provider (FSP 49010) in South Africa. This ensures compliance and transparency for all clients. Beyond payments, 80eight’s ecosystem includes crypto trading, investment tools, wallet infrastructure, and lending for SMEs – all accessible through the 80eight app.

Brought to you by 80eight.

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