BLBG: S. Africa Central Bank Rules Out Rand Peg, Business Report Says
By Mike Cohen
April 7 (Bloomberg) -- South Africa has insufficient foreign reserves to consider pegging the rand against the U.S. dollar, Business Report said, citing Johan van den Heever, an economist at the central bank and head of its research unit.
Van den Heever also dismissed the possibility of reintroducing a parallel financial rand to prevent large capital outflows, saying it would open South Africa up to scams, the Johannesburg-based newspaper reported.
To contact the reporters on this story: Mike Cohen in Cape Town at mcohen21@bloomberg.net
