South African Reserve Bank

Reserve Bank

The South African Reserve Bank is the central bank of the Republic of South Africa. The primary purpose of the Bank is to achieve and maintain price stability in the interest of balanced and sustainable economic growth in South Africa. Together with other institutions, it also plays a pivotal role in ensuring financial stability.

The Reserve Bank is responsible for:

  • Formulating and implementing monetary policy.
  • Issuing banknotes and coin.
  • Supervising the banking sector.
  • Ensuring the effective functioning of the national payment system.
  • Managing official gold and foreign-exchange reserves.
  • Acting as banker to the government.
  • Administering the country’s remaining exchange controls.
  • Acting as lender of the last resort in exceptional circumstances.
  • Set the repo rate.

For more information about the South African Reserve Bank visit their official website on

http://www.resbank.co.za/Pages/default.aspx

3 thoughts on “South African Reserve Bank”

  1. I’m more confused with regard to the regulation of SARB which states that trading in currency its illegal but there are institution who are trading and soliciting people to trade with forex .

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