SA rules out Rand pegging

South Africa's Reserve Bank has again ruled out pegging the rand against the dollar despite worries over the strength of its currency, Business Report newspaper said yesterday.

Both the government and the central bank have in the last few months expressed concern that the stronger rand undermines export competitiveness and therefore economic growth, but say the need for a stable, competitive exchange rate does not translate into fixing the currency.

Business Report quoted Reserve Bank head of economic research Johan van den Heever as telling legislators that maintaining a currency peg required large foreign exchange reserves.

Editor's Comment
Congratulations Anicia Gaothuse!

The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...

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