I´m getting hit with serious exchange rate risk!!!!!


So, I bought a car in South Africa, at the time it was 72.000 ZAR, which was about 7.200 €, ok, I get 46.600 ZAR back, but then 1€ bought approximately 9.6 Rand, now, the rand is falling head over heels, what I can only assume to be the fault of many things attributable to the current happenings in the RSA. Now, if I had paid for the car in € as I had hoped, I would only be taking a loss of 7,3% or so, but since I had to pay for the thing in USD because Caja Madrid, would not let me transfer 7.200€, I´m getting hit with a loss of 11,25%, or 700 dollars.

And regarding this, I´m really somewhat ticked off. Thanks ZUMA! But…. considering the US dollars decline against the € since I´ve converted all my loans from dollars to €, I suppose I can say that Stateside, I made gains of 13,5%. Still…. 700 USD is still 700 USD. :


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