South African Reserve Bank
Mr Lesetja Kganyago
|Headquarters Pretoria, 0001|
|Currency Rand - ZAR (ISO Code )|
The South African Reserve Bank (SARB) is the central bank of the Republic of South Africa. The Bank was established in 1921 in terms of a special Act of Parliament, the Currency and Banking Act, 1920 (Act No. 31 of 1920).
The SARB leads in serving the economic well-being of South Africans through maintaining price and financial stability.
To protect the value of the currency in the interest of balanced and sustainable economic growth in South Africa.
The SARB actively encourages and strives towards the following values:
- Respect and Trust
- Open Communication
4. To fulfil its mandate, the SARB performs the following key activities:
- Formulating and implementing monetary policy;
- Issuing and destroying notes and coin;
- Promoting financial stability which includes acting as the lender of last resort in exceptional circumstances;
- Managing the official gold and foreign exchange reserves of the country;
- Regulating and supervising the banking system;
- Undertaking economic data analysis and research;
- Ensuring the effective functioning of the National Payment System (NPS);
- Administering the country’s remaining exchange controls;
- Acting as banker to the government.