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South African Reserve Bank
 
 
     
 
 

Foreign Exchange 

The Foreign Exchange Operations Section within the Financial Markets Department is entrusted with the responsibility of executing the foreign exchange policy of the country and monitoring foreign exchange activities of authorised dealers and the broader market participants. To this end, the Section performs the following functions:
 
  • Accumulation of foreign exchange reserves through purchases of foreign exchange in the spot market;
  • Conducting of money market swaps in foreign exchange for domestic liquidity management;
  • Management of the liquidity tranche of the official gold and foreign exchange reserves by investing in call and term deposit accounts with foreign banks;
  • Funding of foreign currency accounts of the Bank;
  • Servicing the foreign exchange needs of the Bank’s clients, including the government;
  • Monitoring developments in the local and international markets; and
  • Providing management information on the foreign exchange markets to the Senior Management of the department as well as the Executive Management of the Bank.
 
 
     
 
 
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