The unit of currency in South Africa is the South African rand (ZAR or simply R).
Applicants should constantly check the exchange rates and be aware of how much they require in the way of funds. Once in South Africa, all costs are in rand denominations; however, banks and foreign exchange bureaus are found in abundance.
Most ATMs (Automatic Teller Machines) also accept foreign bank cards, debit and credit cards bearing either the "Cirrus" or "Maestro" logos. In other words, it is possible to withdraw cash from your savings or credit card accounts from our ATMs or at banks and forex bureaus.
Did you know? South Africa was the first country in the world to introduce ATMs!
For the latest exchange rate go to the Currency Converter website, www.xe.com.
|Expenses||Rand per month|
|Living costs||R1 500|
|Pocket money||R1 500|
|Books & Stationery (per semester)||R5 000|
Please note that these are estimated amounts.