The South African Reserve Bank is the central bank of the Republic of South Africa. The primary purpose of the Bank is to achieve and maintain price stability in the interest of balanced and sustainable economic growth in South Africa. Together with other institutions, it also plays a pivotal role in ensuring financial stability.
The Reserve Bank is responsible for:
- formulating and implementing monetary policy;
- issuing banknotes and coin;
- supervising the banking sector;
- ensuring the effective functioning of the national payment system;
- managing official gold and foreign-exchange reserves;
- acting as banker to the government;
- administering the country’s remaining exchange controls;
- acting as lender of the last resort in exceptional circumstances.