Introduction I’d like to thank Moody’s for the invitation to speak to you at this conference on innovation in banking and risk management. My discussion is relevant to both of these issues. The Reserve Bank has always emphasised the value of using a wide range of data to better understand economic developments.
Bank of Baroda can be called upon to play a prominent role in this respect. The application of a mechanism similar to this one has helped to maintain a steady and growing level of tourism between South Africa and Mauritius over the years. South African rand banknotes are today freely exchanged by South African travellers in Mauritius.