EFTA Document EFTA01379421

Liquid tenors: Avg. ticket size: Bid/ask spread: 22 December 2017 EM Currency Handbook 2018: Still Fuel in the Tank Regulatory framework and approach ▪ The South African Reserve Bank regulates exchange rate policy and is responsible for implementing monetary Policy (bitzammy..Le_semkenEse_ael. ▪ The official policy rate is the 7-day repo rate. To ensure that the repo rate is effective, the SARB drains liquidity from the market in order to compel the banks to borrow from the SARB at th