The Reserve Bank controls and monitors all money that leaves and comes into the country. Part of this exchange control forex is that when you travel overseas, you can only forex a certain amount of money for overseas currency.
Forex annual travel allowance is R for adults and children over the age of Children under the allowance of 12 are granted an annual allowance of R50 each. There used to be a separate holiday and business allowance but this no longer exists. The annual allowance applies to all forms of allowance during the year.
The allowances are valid for a calendar year from 1 January to 31 December. Your allowance is determined on the date of departure. If you do not use your entire allowance during the year it falls away - you cannot accumulate allowances from one year to the next. You can use your full allowance in any way you like, including foreign cash, credit card, draft or traveller's cheques.
If the R allowance is not sufficient for the year, you can apply to the Reserve Bank for an additional allowance. Skip to main content. Search form Search this site. What is foreign exchange allowance? How much is the foreign exchange allowance? Can you get an additional allowance? WHAT IS FOREIGN EXCHANGE ALLOWANCE?