Apart from possibly contributing to moderating current appreciation pressures on the exchange rate of the rand, such purchases are in keeping with our stated policy of building reserves. In the past few days the Bank has absorbed the foreign exchange inflows related to the Didata transaction.
Although the exchange rate is posing problems for a number of sectors of the economy, we should ensure that we do not miss out on the possible advantages. South Africa, primarily through the state-owned enterprises Eskom and Transnet, but also with regard to rebuilding infrastructure such as health facilities and equipment, has a considerable capital commitment.