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The primary function of the Reserve Bank is to protect the value of South Africa's currency.
In discharging this role, it takes responsibility for:
- Ensuring that the South African money, banking and financial system as a whole is sound, meets the requirements of the community and keeps abreast of international developments;
- Assisting the South African government, as well as other members of the economic community of southern Africa, with data relevant to the formulation and implementation of macroeconomic policy; and
- Informing the South African community and all stakeholders abroad about monetary policy and the South African economic situation
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Which is correct - South Africa reserve bank or reserve bank of South Africa?
The correct term is "South African Reserve Bank." The name of the central bank of South Africa is officially the South African Reserve Bank, as per its founding legislation and official documents. The term "Reserve Bank of South Africa" is not the accurate or commonly used name for this institution.
Which is the South African richest bank?
Standard bank of south africa
What are the functions of south African reserve bank?
They print money
Where is South African money made?
The South African Reserve Bank prints the majority of South Africa's banknotes, their head office is located in Pretoria.
Who is responsible for issuing of notes and coins in South Africa?
The South African Rand (ZAR) is divided into the following denominations:Notes:R10R20R50R100R200Coins:1c (still in circulation)2c (still in circulation)5c10c20c50cR1R2R5
