Exchange rates
1) Exchange Rates as at 1 October 2001 - Valuation date for Capital Gains Tax purposes:
| Australian Dollar |
4.4524 |
| Canadian Dollar |
5.7274 |
| Euro |
8.2228 |
| Hong Kong Dollar |
1.1590 |
| Indian Rupee |
0.1886 |
| Japanese Yen |
0.0755 |
| Swiss Franc |
5.5617 |
| UK Pound |
13.3017 |
| US Dollar |
9.0395 |
2) Average exchange rates for a year of assessment - The Average Exchange Rate is published in terms of the Income Tax Act, 1962 which provides specifically for amounts expressed in a foreign currency that must be translated into Rand by the application of the applicable average exchange rate.
3) Rates of Exchange - The Customs Rate of Exchange is used to convert the foreign amount import or export invoices into South African Rand. This is updated once a day with information obtained from the South African Reserve Bank by the Valuation Policy division.