Rand strength undesirable: SA finance minister
Pravin Gordhan, South Africa's minister of finance, said on Tuesday that the country's currency was undesirably strong, and that government would support the central bank in building reserves when it sells rands to purchase foreign currency.
"We are concerned that the exchange rate is as strong as it is, we wish we had the capacity to intervene in a more certain way then we are able to do at the moment. We have said in the Medium Term Budget Policy that that will assist the Reserve Bank of South
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