Rand commission implicates central bank
NEWS
JOHANNESBURG -- The South African Reserve Bank’s (SARB) attempts to stem the fall of the rand exacerbated the currency’s dive, found a commission set up to investigate the currency’s 37% fall last year.
An October 14 statement from the SARB announcing it would enforce exchange controls more strictly as a result of concerns that speculative trading was harming the currency, drained liquidity from the rand market in South Africa and resulted in a "one-way bet" on the rand, the report said.
The
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