Non-residents are no longer affected by the remaining exchange controls, and accept the credibility of the South African authorities in their determination gradually to remove the remaining controls. One major constraint, however, is provided by the volatility of exchange rates, even amongst the major currencies of the world.
However, I leave the South African Reserve Bank in great peace of mind because I am confident that Mr Tito Mboweni and the team with him in the Bank have the ability, the determination and the will to steer South Africa successfully into this brave new world.