Mboweni: reserve growth must go on

The central bank does not regard the current level of foreign exchange reserves as excessive, given the economy's high current-account deficit, said Tito Mboweni, the governor of the South African Reserve Bank.

Speaking at a general meeting of shareholders, Mboweni said that enhancing the reserves management processes a strategic area of the central bank.

The primary focus during last year was the formulation and partial implementation of a strategic asset allocation.

This involved the

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