Mboweni questions rand's rise

The governor of the South African Reserve Bank, Tito Mboweni, said the recent strength of rand against the dollar may be "unwelcome" as it pushes up the cost of the country's exports.

The governor, who in recent years has grown increasingly weary about commenting on the value of the historically volatile currency, said that while the central bank does not have a "preferred level" for the rand, "many might argue that it [the strength of the rand] is unwelcome and may bring about imbalances in