ForeXistenZ › Central banks › SARB
South African Reserve Bank (SARB)
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Manages the rand, one of the most liquid emerging-market currencies.
How the SARB moves the ZAR
A central bank sets the interest rate on its currency. Traders compare that rate with the rates of other central banks; the wider the gap, the stronger the pull of money towards the higher-yielding currency. That is why the minutes before a SARB decision are among the most volatile of the month for the ZAR. Book I and Book II of the ForeXistenZ trilogy show how to prepare for these days — and when to stay out.
Frequently asked
What does the South African Reserve Bank do?
Manages the rand, one of the most liquid emerging-market currencies.
Where is the South African Reserve Bank?
The South African Reserve Bank (SARB) is in Pretoria, South Africa.
Why do forex traders watch the SARB?
Interest rates are the price of a currency. When the SARB raises or cuts rates — or only hints at it — money moves into or out of the ZAR, and ZAR reacts within seconds.
Where are the SARB’s decisions published?
Official decisions, statements and the meeting calendar are published on https://www.resbank.co.za.
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Other central banks
CBNCentral Bank of Nigeria
Abuja, Nigeria — Manages the naira for Africa’s most populous country.
BOGBank of Ghana
Accra, Ghana — Ghana’s central bank — buying domestic gold to strengthen the cedi.
SAMASaudi Central Bank
Riyadh, Saudi Arabia — Keeps the riyal pegged to the dollar — the foundation of oil priced in dollars.
CBUAECentral Bank of the UAE
Abu Dhabi, United Arab Emirates — Holds the dirham’s peg to the dollar.
BOIBank of Israel
Jerusalem, Israel — Manages the shekel.
RBIReserve Bank of India
Mumbai, India — Manages the rupee for the world’s most populous nation.