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Kganyago says rand resilience cushioning South Africa from shock
Kganyago says rand resilience cushioning South Africa from shock
South African Reserve Bank Governor Lesetja Kganyago said the rand has held up well despite the shock caused by the Iran war, reflecting more confidence in the country's economic outlook.
"Rand resilience has cushioned, but not shielded us from the shock," Kganyago told Bloomberg TV on the sidelines of the International Monetary Fund and World Bank meetings in Bangkok on Friday.
"The important thing is that the currency had been less volatile than it had been in the past, and it is a combination of push factors and a combination…
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