Any domestic capital flow restrictions will therefore have little to no impact on this trading but could rather lead to an increase in offshore trading.   The risk of the prevailing domestic financial stability being disturbed if the exchange rate were to depreciate is limited by the fact that both the private sector and government borrow mainly in the local currency.
  There is no major mismatch between South African banks’ foreign assets and liabilities, which are both moderate relative to the size of their total balance sheets.   The low level of foreign currency-denominated indebtedness protects balance sheets as it limits the impact of sudden stops on the accessibility of foreign liabilities.