Gordhan: floating rand helps absorb shocks
Share this article:
Johannesburg - South African Finance Minister Pravin Gordhan said on Thursday the rand has some protection from volatility in the country's major trading partners due to the floating exchange rate.
“We have a floating exchange rate, which will be able to absorb some of the shocks emerging from events that we have little control over at this time,” Gordhan told journalists at a briefing at the revenue service. - Reuters