Question
A person bought dollars at R8. Now the price is R7.35 for a dollar. At what price is he allowed to sell his dollars?
Answer
The parties may mutually fix the price for the dollars. It is not necessary to adopt the current bank rate. Any price could be mutually arranged for the dollars regardless of the price which was paid for the dollars.
- Source
- themajlis.co.za
- Published in
- The Majlis Vol 19 No 06
- PDF page
- 5
Appears under Questions and Answers (approximate).