Future Forex

Let's take a look at how the South African rand (ZAR) is faring against the US dollar (USD) in our final Weekly Currency Update for October🔍 This past week, the Rand weakened 0.40% against the Dollar, with USD-ZAR opening last week at 17.63 and currently trading at 17.70. Looking to send money abroad or receive an international payment? 🌍 Get in touch with us to enquire about our unbeatable service and transparent pricing for your forex transactions: https://lnkd.in/d7giAjgR

"It's the responsibility of financial corporates to ensure that people fully understand what they're purchasing and how much it costs, rather than trying to fill their back pockets." In a recent interview with eNCA's Francis Herd, our CEO Harry Scherzer discussed the pressing issue of financial literacy in South Africa. With one of the lowest savings rates in the world and only half the population financially literate, this educational gap creates significant challenges for South Africans and the broader economy. The country's financial institutions only perpetuate the issue, with many prioritising shareholder profits over consumer education. A lack of financial literacy allows them to capitalise on hidden costs, which we've witnessed first-hand with traditional banks in the international money transfer space. You can watch the full interview below:

Let's take a look at how the South African rand (ZAR) is faring against the US dollar (USD) in our Weekly Currency Update🔍 This past week, the Rand weakened 1.14% against the Dollar, with USD-ZAR opening last week at 17.43 and currently trading at 17.63. Looking to send money abroad or receive an international payment? 🌍 Get in touch with us to enquire about our unbeatable service and transparent pricing for your forex transactions: https://lnkd.in/d7giAjgR

"South Africa has unique exchange controls, which add to the complexities of international money transfers for individuals and businesses." In a recent interview with HOT102.7FM's Jeremy Maggs, our CEO, Harry Scherzer, highlights the major challenges that South Africans face when transferring money abroad via traditional banks. Burdened by significant hidden fees, outdated systems, and a lack of compliance assistance, the process often becomes unnecessarily complex, time-consuming and costly. At Future Forex, we offer a client-focused alternative with transparent pricing, expert guidance, and a seamless experience from start to finish. Whether you're an individual or a business, we ensure every transaction is seamless, cost-effective, and as hands-off as possible. You can listen to the full interview below:

Let's take a look at how the South African rand (ZAR) is faring against the US dollar (USD) in our Weekly Currency Update🔍 This past week, the Rand strengthened 0.17% against the Dollar, with USD-ZAR opening last week at 17.46 and currently trading at 17.43. Looking to send money abroad or receive an international payment? 🌍 Get in touch with us to enquire about our unbeatable service and transparent pricing for your forex transactions: https://lnkd.in/d7giAjgR

"Educate people on your products, educate people from the ground up on what you do." In a recent interview with Moneyweb's Simon Brown, our CEO Harry Scherzer addresses the critical need for enhanced financial literacy in South Africa. With only 51% of South Africans being financially literate and the country's rising debt levels, this educational gap creates significant challenges for individuals and businesses alike. A major contributing factor is that many financial service providers treat education as an afterthought, allocating just a small portion of their after-tax profits to financial literacy initiatives rather than addressing the root cause of the issue. At Future Forex, we've built our entire foundation around educating our clients, ensuring that, from the onset, they have a comprehensive understanding of our products, what they're paying for and why - an aspect that's been overlooked by the financial sector for decades. You can listen to the full interview below:

Congratulations to our CEO, Harry Scherzer, who has been named the winner of the Banking and Finance category at this year's FORTY UNDER 40 SOUTH AFRICA awards! 🏆 This recognition not only reflects Harry’s exceptional leadership and vision, but also the unwavering dedication of the entire Future Forex team. We're excited to continue driving innovation, pushing boundaries, and delivering market-leading solutions to our clients.

Let's take a look at how the South African rand (ZAR) is faring against the US dollar (USD) in our first Weekly Currency Update for October🔍 This past week, the Rand weakened 2.38% against the Dollar, with USD-ZAR opening last week at 17.05 and currently trading at 17.46. Looking to send money abroad or receive an international payment? 🌍 Get in touch with us to enquire about our unbeatable service and transparent pricing for your forex transactions: https://lnkd.in/d7giAjgR

As South Africa's leading and most established Crypto Arbitrage provider, we're attuned to the latest trends in cryptocurrency and any Rand/Dollar movements that impact the market. In a recent interview with CNBC's Nastassia Arendse, our CEO, Harry Scherzer, shared his insights on how an overly optimistic market sentiment, a global delay in interest rate cuts and regulatory pressures have contributed to the poor performance of cryptocurrency over the past 6 months. With crypto increasingly being viewed as a risky asset rather than a safe-haven asset like Gold, the crypto market’s typically strong Q4 trajectory will largely hinge on further global interest rate cuts and the outcome of the upcoming US election. You can watch the full interview below:

What a remarkable month September has been for the Rand and South Africa as a whole! This month, the Rand hit 17.04 to the US Dollar, its strongest level since January 2023. Taken from our September Newsletter, the graph below says it all: the Rand has soared this month, and it's likely to continue its strong trajectory ahead. Optimism is in full flow across the country, topped off by the Springboks who brought home the Rugby Championship this weekend! 🇿🇦 If you're interested in partnering with us, or you'd like to subscribe to our newsletters, please reach out to us at info@futureforex.co.za.