the legal tender. Since 1995, after the abolition of the financial rand and capital controls for non-residents, the rand has been freely floating. The South African Reserve Bank (SARB) has, in the past, intervened in the market to accumulate foreign exchange reserves, but these have rarely had an immediate effect on the le

nors: Avg. ticket size: Bid/ask spread: 22 December 2017 EM Currency Handbook 2018: Still Fuel in the Tank Regulatory framework and approach ▪ The South African Reserve Bank regulates exchange rate policy and is responsible for implementing monetary Policy (bitzammy..Le_semkenEse_ael. ▪ The official policy rate is the