When Aparupa Ganguly visited South Africa in 2007, the country’s topography and wildlife made such an impression on the communications professional that she couldn’t wait to come back. Ganguly got her wish six years later – thanks to a stable rand.
Foreign-bound Indian travellers such as Ganguly are realizing that holidaying in countries such as South Africa and Australia offers value for money as their currencies have been largely stable in recent weeks and haven’t appreciated as much against the rupee, when compared to the dollar or the euro.
Data shows the South African rand and the Australian dollar have gained around 10 percent since May, compared to a near 30 percent surge in the U.S. dollar which hit a record high above 68 per rupee on Wednesday.
Ganguly, who accompanied her husband on a business trip to South Africa this month, bought the rand at about 6.2 per rupee and travelled across the Garden Route, a scenic tourist area on the country’s south-eastern coast.
“If the rand would have really gone up, I wouldn’t have accompanied him,” said the 35-year-old who spent around 230,000 rupees ($3,380) on her trip this month.