SARB has no reserve target - Plenderleith

The South African Reserve Bank plans to keep gradually building its foreign exchange reserves, Deputy Governor Ian Plenderleith said in an interview.

"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 w

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