Rand still at risk despite recovery – Mminele
Sarb deputy warns against complacency as risks to exchange rate linger on the horizon
A governor from the South African Reserve Bank has stressed a “sense of complacency” must not be allowed to “creep in” despite the recovery of the rand exchange rate.
Speaking in New York on October 16, Daniel Mminele acknowledged the rand had stabilised over the past year, aided by a recovery in South Africa’s terms of trade, but said the currency remained “volatile”.
“The risks to the rand are probably skewed towards renewed depreciation, for both internal and external reasons,” he said.
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