Real exchange rate matters: SARB’s Mminele
The central bank's commitment to a flexible exchange rate should not be misconstructed to suggest that the institution was indifferent to the level of the exchange rate, said Daniel Mminele, a deputy governor of the South African Reserve Bank.
Mminele said the level of the exchange rate was a very important factor in the inflation process and got taken into account when considering policy. He also said that the real exchange rate was more important than nominal one in terms of assessing
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