Since then, it has weakened seven and a half times less. At the same time, four times less FX reserves have been spent. I call this commitment, efficiency and conscientiousness, dedication to the general interest! (Slide 6) In 2016, the dinar depreciated by 1.5% against the euro. Depreciation pressures mostly came from turbulences in the world financial markets which affected non-resident activity.
In the past financial year the Bank spent an amount of about R33 million on training, development, study aid, bursaries, skills development levies and educational grants. The Cadet Graduate Programme of the Bank increased its intake from 10 in the previous year to 17 in 2008.