In September 1997 I walked into the Volkswagen South Africa factory for an interview for my very first job, as a trainee in public affairs, writes Songezo Zibi.
The issue of GFECRA sounds technical, but actually it’s very simple. The SA Reserve Bank runs a large reserve in foreign currency markets because the bank doesn’t want to be caught short if there is a sudden demand for foreign currency. If that were to happen, the rand, which already bounces ar.