Central Banking

S Africa ctrl bk may move against Rand speculators

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SOUTH AFRICA - Tito Mboweni, South Africa's Reserve Bank governor may move to stamp out the use of local finance to fund speculative attacks against the rand, the daily Business Day newspaper reported Friday 28 September.The governor also lambasted foreign speculators who took advantage of liquidity in the local market to sell the rand short, the newspaper reported."Financial institutions which provide the rand have to be able to show me proof that all their trades are genuine economic trades

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