SARB removes apartheid's forex overhang

South African Reserve Bank governor Tito Mboweni said on Monday 1 March that the SARB last month closed out its oversold forward book to eliminate a structural overhang in the economy caused by apartheid.

"Squaring off the forward book indeed represents a significant milestone and has allowed us to finally successfully deal with one of the sad consequences of an unfortunate part of the country's apartheid past," Mboweni said.

"An old chapter has closed. A new chapter of building our reserves as