Sixty 3 Forex and Wealth

Sixty 3 Forex and Wealth Sixty 3 Forex and Wealth, your trusted partner in Foreign Exchange Intermediation, Wealth Management and Trust Administration.

Authorised Foreign Exchange Intermediary
SARB Approval No: 2022-18019 We help clients navigate the complexities of trust administration in South Africa, drawing on our expertise and a network of trusted affiliates. Founded in 2018 and based in southern Johannesburg, we serve clients nationwide and internationally. Our approach to financial and estate planning is both personalized and holistic, ens

uring tailored solutions to meet each client’s unique needs. SERVICES
• Trust Administration
• Trust registration
• Trust deregistration
• Independent trustee services

SERVICES THROUGH LICENSED AFFILIATES:
• Foreign Exchange Intermediation (incoming & outgoing)
• Single & Foreign
• Discretionary Allowances
• Personal Risk Assurance
• Business Assurance
• Estate Planning

31/03/2025

🌍💰 Weekly Exchange Rate Update: 24–28 March 2025 💰🌍

📈 Key Exchange Rate Trends:

💵 USD/ZAR:
High 18.44 | Low 18.12 | Avg 18.28 | Open 18.12 | Close 18.44

💶 EUR/ZAR:
High 19.97 | Low 19.55 | Avg 19.76 | Open 19.55 | Close 19.97

💷 GBP/ZAR:
High 23.54 | Low 23.10 | Avg 23.32 | Open 23.10 | Close 23.54

🇦🇺 AUD/ZAR:
High 11.80 | Low 11.65 | Avg 11.72 | Open 11.65 | Close 11.80

🇦🇪 AED/ZAR:
High 4.96 | Low 4.93 | Avg 4.94 | Open 4.93 | Close 4.96

📊 Market Insights & Key Events:

🔹 Rand gains as Dollar weakens – The ZAR appreciated through the week, ending stronger on the back of broad-based U.S. Dollar weakness.

🔹 U.S. auto tariffs in focus – Market sentiment was tempered by concerns over U.S. tariffs on automotive imports, announced by President Trump and set to take effect from 3 April.

🔹 Budget balance data awaited – Investors looked toward South Africa’s budget balance figures released on 28 March for clues on fiscal stability.

🔹 End-of-week strength – On 28 March, the Rand firmed to 18.19/USD, with commodities and risk appetite helping support emerging market currencies.

Exchange rates fluctuate throughout the day. Need real-time updates or personalized FX solutions? Contact us today!

24/03/2025

🌍💰 Weekly Exchange Rate Update: 17–21 March 2025 💰🌍

📈 Key Exchange Rate Trends:

💵 USD/ZAR:
High 18.23 | Low 18.09 | Avg 18.14 | Open 18.09 | Close 18.23

💶 EUR/ZAR:
High 19.78 | Low 19.68 | Avg 19.72 | Open 19.78 | Close 19.68

💷 GBP/ZAR:
High 23.25 | Low 23.00 | Avg 23.12 | Open 23.10 | Close 23.20

🇦🇺 AUD/ZAR:
High 11.80 | Low 11.65 | Avg 11.73 | Open 11.70 | Close 11.78

🇦🇪 AED/ZAR:
High 4.96 | Low 4.93 | Avg 4.94 | Open 4.93 | Close 4.96

📊 Market Insights & Key Events:

🔹 ZAR under pressure from upcoming data – The Rand traded cautiously ahead of both local and U.S. economic data, with investors awaiting inflation figures and rate decisions.

🔹 Inflation anticipation – On 19 March, the Rand softened to 18.21/USD ahead of South Africa's inflation release and the U.S. Fed’s rate decision.

🔹 Interest rate watch – On 20 March, the Rand traded at 18.18/USD as markets braced for the South African Reserve Bank’s interest rate decision, adding to market tension.

🔹 End-week uptick in volatility – By 21 March, the Rand weakened slightly to 18.23/USD, with ongoing uncertainty in global markets and a stronger dollar weighing on EM currencies.

Exchange rates fluctuate throughout the day. Need real-time updates or personalized FX solutions? Contact us today!

19/03/2025

📊 Investment Intelligence: The Two-Pot Retirement System Explained 💡

South Africa’s retirement landscape is changing, the Two-Pot Retirement System came into effect on the 1st of September 2024. This system introduces flexibility while ensuring long-term financial security. But what does it mean for your retirement savings?

🔹 What is the Two-Pot Retirement System?

Under the new system, retirement savings will be split into two components:

1️⃣ Retirement Pot (Preserved Savings) – 2/3 of Contributions
✔ Locked until retirement (age 55+).
✔ Must be used to purchase an annuity for retirement income.
✔ Protects long-term financial security.

2️⃣ Savings Pot (Accessible Portion) – 1/3 of Contributions
✔ Allows withdrawals before retirement (once per tax year).
✔ Can help with financial emergencies.
✔ Withdrawals are taxed at your marginal tax rate.

📈 Why This Change?
The goal is to balance flexibility and security. Previously, retirement funds were completely locked in, often leading to full withdrawals when changing jobs. Now, individuals can access a portion of their savings without jeopardizing their retirement future.

🔹 How Does This Impact You?

✅ If you already have a pension, provident fund, or RA, your existing savings remain unchanged—only new contributions will follow the Two-Pot structure.

✅ If you need access to funds, the Savings Pot provides an option, reducing the need to resign just to cash out.

✅ It reinforces long-term saving habits while allowing for some flexibility.

⚠️ Key Considerations:
❌ Withdrawals from the Savings Pot are taxed at your normal income tax rate.

❌ Only one withdrawal per tax year is allowed from the Savings Pot, with a minimum value of R2,000.

❌ Your existing retirement savings (before Sept 2024) remain locked under the old system.

🔹What Happens to Your Existing Retirement Savings? (The Vested Amount)

If you already have money saved in a pension, provident fund, or retirement annuity (RA) before 1 September 2024, this amount will be known as your Vested Amount.

✔ This money stays under the old rules – It remains locked until retirement and cannot be accessed before age 55.

✔ Future contributions (after 1 Sept 2024) will be split into the new Two-Pot System – meaning only new savings will have the flexible Savings Pot option.

✔ If you change jobs, your Vested Amount can still be transferred to a preservation fund or another retirement vehicle, following current rules.

17/03/2025

🌍💰 Weekly Exchange Rate Update: 10–14 March 2025 💰🌍

📈 Key Exchange Rate Trends:

💵 USD/ZAR:
High 18.42 | Low 18.13 | Avg 18.27 | Open 18.34 | Close 18.20

💶 EUR/ZAR:
High 20.00 | Low 19.50 | Avg 19.75 | Open 19.80 | Close 19.60

💷 GBP/ZAR:
High 23.50 | Low 22.90 | Avg 23.20 | Open 23.30 | Close 23.00

🇦🇺 AUD/ZAR:
High 12.00 | Low 11.70 | Avg 11.85 | Open 11.90 | Close 11.75

🇦🇪 AED/ZAR:
High 5.10 | Low 4.95 | Avg 5.02 | Open 5.05 | Close 5.00

📊 Market Insights & Key Events:

🔹 Rand influenced by domestic fiscal policies – The ZAR experienced fluctuations, reacting to local fiscal policy announcements and external market conditions.

🔹 Budget speech anticipation – On 10 March, the Rand traded slightly weaker at 18.28/USD as investors awaited the national budget speech.
🔹 Budget reaction and political uncertainty – On 12 March, the Rand weakened to 18.51/USD following the finance minister’s revised budget presentation, which faced resistance over proposed VAT increases.

🔹 Commodity price impact – On 14 March, the Rand strengthened to 18.19/USD, supported by record-high gold prices, as investors sought safe-haven assets amidst global trade tensions.

💡 Exchange rates fluctuate throughout the day. Need real-time updates or personalized FX solutions? Contact us today! 🚀

11/03/2025

📊 Investment Intelligence: Understanding Retirement Annuities 💡

Planning for retirement isn’t just about saving—it’s about investing wisely to secure financial freedom. A Retirement Annuity (RA) is a powerful tool to build long-term wealth while benefiting from tax efficiency.

🔹 What is a Retirement Annuity?
An RA is a personal retirement savings plan where your contributions are invested in a diversified portfolio and grow tax-free until retirement.

📌 How It Works:
✔️ You make regular contributions.
✔️ Your capital grows tax-free in selected funds.
✔️ You can only access your savings from age 55.
✔️ At retirement, you can withdraw one-third as a lump sum (R550,000 is tax free, anything above is subject to tax), while the remaining two-thirds fund an annuity income.
✔️ If the value is R247,500 or less you will be able to withdraw the full value as a cash. lump sum

📈 Why Consider an RA?
✅ Tax Savings – Contributions are tax-deductible (up to 27.5% of taxable income, capped at R350,000 per year).
✅ Tax-Free Growth – No tax on interest, dividends, or capital gains.
✅ Creditor Protection – Your retirement savings are shielded from creditors.
✅ Financial Discipline – Encourages structured, long-term saving for retirement.

⚠️ Things to Consider:
❌ Funds are locked until age 55 – Not suitable for short-term financial needs.
❌ Withdrawals are taxed – The lump sum is taxed according to SARS retirement tax tables.
❌ Mandatory Annuity Purchase – At least two-thirds must be converted into an income-generating annuity.

💡 New Update: The Two-Pot System
From 1 September 2024, RAs will be split into:
🔹 Savings Component – Allows limited withdrawals before retirement.
🔹 Retirement Component – Preserved for long-term financial security.

🔎 Who Should Consider an RA?
✔️ Self-employed professionals & business owners without employer-sponsored pensions.
✔️ Income earners seeking tax-efficient savings.
✔️ Anyone focused on long-term retirement planning.

📢 Want to know how an RA fits into your financial plan?
Let’s discuss your options!

10/03/2025

🌍💰 Weekly Exchange Rate Update: 3–7 March 2025 💰🌍

📈 Key Exchange Rate Trends:

💵 USD/ZAR:
High 18.70 | Low 18.13 | Avg 18.36 | Open 18.62 | Close 18.25

💶 EUR/ZAR:
High 20.00 | Low 19.50 | Avg 19.75 | Open 19.80 | Close 19.60

💷 GBP/ZAR:
High 23.50 | Low 22.90 | Avg 23.20 | Open 23.30 | Close 23.00

🇦🇺 AUD/ZAR:
High 12.00 | Low 11.70 | Avg 11.85 | Open 11.90 | Close 11.75

🇦🇪 AED/ZAR:
High 5.10 | Low 4.95 | Avg 5.02 | Open 5.05 | Close 5.00

📊 Market Insights & Key Events:
🔹 Rand strengthens amid global policy shifts – The ZAR appreciated against major currencies, closing the week stronger due to international trade developments.

🔹 U.S. tariff announcements – On 3 March, the Rand strengthened to 18.61/USD following the U.S. administration’s plan to impose tariffs on Mexico, Canada, and China, impacting global markets.
🔹 Local GDP data release – The Rand showed slight volatility ahead of South Africa's GDP figures, with USD/ZAR trading at 18.64 on 4 March as investors awaited economic data.

🔹 Global market reactions – By 5 March, the Rand further strengthened to 18.37/USD as markets processed U.S. policies and their implications on global trade.

🔹 U.S. payroll data anticipation – The Rand remained stable on 7 March, trading at 18.14/USD, as investors awaited U.S. non-farm payroll data for further direction.

💡 Exchange rates fluctuate throughout the day. Need real-time updates or personalized FX solutions? Contact us today! 🚀

04/03/2025

🌍💰 Weekly Exchange Rate Update: 24–28 February 2025 💰🌍

📈 Key Exchange Rate Trends:

💵 USD/ZAR:
High 18.70 | Low 18.30 | Avg 18.50 | Open 18.38 | Close 18.70

💶 EUR/ZAR:
High 19.35 | Low 18.90 | Avg 19.12 | Open 19.00 | Close 19.35

💷 GBP/ZAR:
High 23.41 | Low 22.90 | Avg 23.15 | Open 22.95 | Close 23.41

🇦🇺 AUD/ZAR:
High 11.72 | Low 11.47 | Avg 11.60 | Open 11.50 | Close 11.72

🇦🇪 AED/ZAR:
High 5.15 | Low 5.02 | Avg 5.08 | Open 5.05 | Close 5.15

📊 Market Insights & Key Events:
🔹 Rand under pressure amid global risk-off sentiment – The ZAR weakened against major currencies, closing the week softer after a volatile trading period.

🔹 U.S. inflation concerns – The USD/ZAR pair climbed to 18.70 as stronger-than-expected U.S. inflation data fueled speculation of further Federal Reserve tightening.

🔹 Eurozone economic slowdown – The EUR/ZAR pair saw fluctuations as slower-than-expected Eurozone GDP growth weighed on the Euro, but the Rand failed to capitalize amid local economic concerns.

🔹 SA Budget Speech impact – The Rand saw initial weakness following the South African Budget Speech, as debt sustainability concerns weighed on investor sentiment before stabilizing later in the week.

💡 Exchange rates fluctuate throughout the day. Need real-time updates or personalized FX solutions? Contact us today! 🚀

24/02/2025

🌍💰 Weekly Exchange Rate Update: 17–21 February 2025 💰🌍

📈 Key Exchange Rate Trends:

💵 USD/ZAR:
High 18.58 | Low 18.31 | Avg 18.44 | Open 18.42 | Close 18.38

💶 EUR/ZAR:
High 19.38 | Low 19.15 | Avg 19.27 | Open 19.29 | Close 19.21

💷 GBP/ZAR:
High 22.80 | Low 22.50 | Avg 22.65 | Open 22.70 | Close 22.60

🇦🇺 AUD/ZAR:
High 11.60 | Low 11.40 | Avg 11.50 | Open 11.45 | Close 11.55

🇦🇪 AED/ZAR:
High 5.10 | Low 5.00 | Avg 5.05 | Open 5.02 | Close 5.08

📊 Market Insights & Key Events:

🔹 Rand steady ahead of national budget – On 19 February, the ZAR traded at 18.4050 against the USD as investors awaited the national budget speech by Finance Minister Enoch Godongwana.

🔹 Budget postponement impacts Rand – The national budget presentation was unexpectedly postponed due to disagreements within the coalition government over a proposed VAT increase, leading to a 1% decline in the Rand against the USD.

🔹 Rand recovers amid G20 meeting focus – By 20 February, the Rand partially recouped losses, trading at 18.4925/USD, as attention shifted to the G20 foreign ministers' meeting in Johannesburg.

Exchange rates fluctuate throughout the day. For real-time updates or personalized FX solutions, contact us today!

19/02/2025

🌍💰 Weekly Exchange Rate Update: 10–14 February 2025 💰🌍

📈 Key Exchange Rate Trends:

💵 USD/ZAR:
High 18.58 | Low 18.30 | Avg 18.44 | Open 18.42 | Close 18.38

💶 EUR/ZAR:
High 19.50 | Low 19.20 | Avg 19.35 | Open 19.30 | Close 19.25

💷 GBP/ZAR:
High 22.80 | Low 22.50 | Avg 22.65 | Open 22.70 | Close 22.60

🇦🇺 AUD/ZAR:
High 11.60 | Low 11.40 | Avg 11.50 | Open 11.45 | Close 11.55

🇦🇪 AED/ZAR:
High 5.10 | Low 5.00 | Avg 5.05 | Open 5.02 | Close 5.08

📊 Market Insights & Key Events:
🔹 Rand strengthens amid geopolitical developments – The ZAR gained against major currencies, closing the week stronger against the USD and EUR.

🔹 Peace talk optimism – On 13 February, the Rand strengthened to 18.46/USD following reports of potential Russia-Ukraine peace talks, boosting market sentiment.

🔹 Trade war concerns – The Rand appreciated further to 18.43/USD on 14 February after U.S. President Trump’s tariff announcement, sparking global trade uncertainty.

🔹 Steel tariff impact – Earlier in the week, the Rand briefly weakened to 18.47/USD as markets assessed the effect of new U.S. steel and aluminum tariffs.

💡 Exchange rates fluctuate throughout the day. Need real-time updates or personalized FX solutions? Contact us today!

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12/02/2025

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11/02/2025

🌍💰 Weekly Exchange Rate Update: 3–7 February 2025 💰🌍

Key exchange rate trends this week:

💵 USD/ZAR:
High 18.84 | Low 18.41 | Avg 18.56 | Open 18.88 | Close 18.41

💶 EUR/ZAR:
High 19.34 | Low 19.01 | Avg 19.18 | Open 19.34 | Close 19.01

💷 GBP/ZAR:
High 22.95 | Low 22.83 | Avg 22.89 | Open 22.95 | Close 22.83

🇦🇺 AUD/ZAR:
High 11.54 | Low 11.53 | Avg 11.54 | Open 11.54 | Close 11.53

🇦🇪 AED/ZAR:
High 5.14 | Low 5.01 | Avg 5.08 | Open 5.14 | Close 5.01

📊 Summary of Insights and Events:
The South African Rand (ZAR) strengthened against major currencies last week. The USD/ZAR pair opened at 18.88 and closed at 18.41, while EUR/ZAR opened at 19.34 and closed at 19.01.

🔹 The South African Reserve Bank cut the main lending rate by 25 basis points to 7.50%, boosting investor confidence and supporting the Rand.
🔹 Global market reactions to developments in Chinese AI startup DeepSeek caused initial volatility, but the Rand stabilized as investors assessed broader economic impacts.

Exchange rates can fluctuate throughout the day. For real-time updates or personalized solutions, contact us today!

04/02/2025

🌍💰 Weekly Exchange Rate Update: 27–31 January 2025 💰🌍

Key exchange rate trends this week:

💵 USD/ZAR:
High 18.78 | Low 18.40 | Avg 18.60 | Open 18.55 | Close 18.59

💶 EUR/ZAR:
High 19.45 | Low 19.20 | Avg 19.32 | Open 19.28 | Close 19.35

💷 GBP/ZAR:
High 23.30 | Low 22.90 | Avg 23.10 | Open 23.00 | Close 23.09

🇦🇺 AUD/ZAR:
High 13.95 | Low 13.50 | Avg 13.72 | Open 13.60 | Close 13.85

🇦🇪 AED/ZAR:
High 5.11 | Low 5.05 | Avg 5.08 | Open 5.11 | Close 5.08

📈 Major Trends and Context:

USD/ZAR: The South African rand showed some volatility but ultimately weakened slightly against the U.S. dollar, closing at 18.59. The movement was influenced by U.S. economic data signaling potential rate cuts by the Federal Reserve.

EUR/ZAR: The rand remained relatively stable against the euro, with minor fluctuations throughout the week, closing at 19.35.

GBP/ZAR: The pound saw gains against the rand, closing at 23.09, following strong UK economic data and market confidence in the Bank of England’s policy direction.

AUD/ZAR: The rand weakened slightly against the Australian dollar, closing at 13.85, as commodity prices remained a key driver of AUD strength.

AED/ZAR: The rand weakened slightly against the UAE dirham, closing at 5.08, reflecting broader market movements in line with the USD/ZAR trend.

Exchange rates can fluctuate throughout the day. For real-time updates or personalized solutions, contact us today!

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