SARB has no reserve target - Plenderleith
"What we are doing is trying to build up reserves to a more normal level. We do that through purchases in the foreign exchange markets when the market is active," said Plenderleith in an interview with Reuters on Friday.
"That will continue on a moderate, gradual basis," he told Reuters on the sidelines of the ACI foreign exchange conference.
"It will proceed in the way they are planning to do, in consultation with us. But we are not offering any comment on the mechanics of it, because that is obviously a live market operation for them to conduct," Plenderleith said.
Any impact on foreign exchange reserves would only be disclosed in the central bank's monthly FX report, he said.
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