SARB's Mboweni on the rand and hot money outflows

In the speech 'How exposed is the rand to the potential outflow of hot money?' given on 21 November Tito Mboweni of the South African Reserve Bank said there are a number of indicators that provide some comfort that the South African economy is coping well with an exchange rate at the current levels.

"It is the view of the SARB that a stable currency is more important that a particular exchange rate, and that a particular exchange rate should not be targeted alongside an inflation target,"

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