Relaxation of foreign exchange controls an exciting new development (01/05/2008)
To the surprise of many, South African Finance Minister Trevor Manuel and the South African Reserve Bank relaxed their hold on exchange controls in the annual Budget Speech in February 2008.
Previously, South Africans who travelled out of the country were entitled to the following allowances:
R160 000 per individual (12 years and older) per annum.
R50 […]