South Africa: Govt hopes to tame rand

source: Fin24
Feb 14 2010 10:25 Jean-Marie de Waal

Cape Town – Minister of Finance Pravin Gordhan will shortly announce government’s plan to stabilise the rand’s exchange rate.

Collins Chabane, the minister in the presidency responsible for monitoring and evaluation, at a media session on Friday announced that decisions had been taken in this regard. But he declined to say whether this implied a freezing of the rand.

In October markets reacted sharply to an announcement that government was considering altering macroeconomic policy by, among other things, freezing the value of the rand. At the time government spokesperson Themba Maseko said that that was not on the [continue reading]


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