SARB holds 70% dollar-denominated reserves

South Africa's central bank holds 70 per cent of its foreign exchange reserves in dollars, the bank's financial markets head Daniel Mminele was quoted as saying on Wednesday.

This would mean that South Africa is above the global average in terms of its exposure to the dollar, as around 64 per cent of the world's reserves are denominated in the greenback.

"At this stage, we don't have a fixed targeted currency composition," the weekly Financial Mail magazine quoted Mminele as saying.

"A certain d

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