Tag: currency value

The South African Reserve Bank (SARB), historically finding its expression in the Currency and Banking Act of 1920, is today premised on section 224(1) of the Constitution. Has the Reserve Bank been acting constitutionally since its legal foundation changed? Has it been protecting the value of the Rand in the interest of balanced and sustainable economic growth as required? How would the Reserve Bank meet its constitutional objective?

The constantly fluctuating foreign exchange or forex is the marketplace where global currencies are traded and is the largest financial market in the world. With daily transactions crossing over $6.6 trillion, it provides a crucial function for the global trade to take place.