Reserve Bank Of South Africa Warns Against Early Abolition Of Finrand
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In a clear signal to the interbank market to dampen down speculative activity, the Reserve Bank of South Africa is warning that abolition of the country's investment currency - the financial rand - is "at least a year away."
In a telephone interview with FX Week a senior Reserve Bank official denied that any major policy change had occurred following the resignation announcement on July 5 by South African Finance Minister Derek Keys and his replacement from October by Chris Liebenberg, former
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