CAPE TOWN, May 4 – South Africa’s government is not planning to intervene to weaken the rand currency that has helped to cushion the impact of higher oil and food prices, Finance Minister Pravin Gordhan said on Wednesday.
The government’s rand policy is a touchy issue between the ruling African National Congress and its leftist allies who would rather see the currency weakened and Gordhan’s comments could add to ongoing tensions in the alliance over policy.
Source: Reuters Africa newsletter
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