Before travelling overseas, it’s common practice to compare prices of a Big Mac to see how far your money will stretch.
Because a Big Mac is the same wherever you go (or is it?), and thus acts as the perfect unit of measure.
Standard.
As the rand claws its way out the vast chasm it fell into for most of last year, Business Tech thought it be a good time to look at which cities you can travel to in order to get the most out of your money.
Because, well, this might be a good time to pop overseas.
You see, although there is tremendous support from investors for Cyril Ramaphosa, a “Reuters poll held on Friday (5 January) found that the run is likely to end soon, with technical indicators now suggesting the rand is overbought”:
There are also doubts about how much Ramaphosa, a promised reformer, can do for South Africa’s ailing economy, with the polled strategists saying that the rand is likely to weaken by as much as 12% by the end of 2018.
Heartbreak.
So, right now, as the rand sits at a reasonable 12,38 to the dollar, here’s how much R100 can get you:
- UK: £5.96
- USA: $8.08
- Australia: AU$10.30
- Germany: €6.73
- Brazil: R$26.1
- China: 52.36 Yuan
- Dubai: 29.67 dirham
- Canada: C$10.03
- Thailand: 263.15 Baht
Not ideal, but it has been worse.
To compare, take a look at the Big Mac price comparison table below:
A beer in a pub in Jozi is R25? We must be paying for the view down here in the Mother City.
Might as well just enjoy a trip around our own country.
[source:businesstech]
