SARB's Mboweni on the rand

Governor Tito Mboweni yesterday said the South African Reserve Bank (SARB) favoured a "competitive" exchange rate.

"Volatility in the exchange rate is seen as a concern for the mining sector. The concern is not only for the mining sector but for the Reserve Bank as well," Mboweni told delegates at a mining conference on Monday.

The country's mining and manufacturing sectors have struggled to adapt to an appreciating rand, since the currency rallied from historical lows in late 2001.

"Our view is

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