Mboweni dismisses calls for intervention

The governor of the South African Reserve Bank, Tito Mboweni, dismissed the suggestion of a group a renowned economic advisors to the government.

The group of economists from Harvard University, which advises the South African government on economic policy, has suggested that the central bank should intervene in currency markets to weaken the rand.

"Any attempts to weaken the exchange rate, I think is folly," Mboweni told a parliamentary finance committee on 3 August.

The governor added: "If