06 Jun 2011The rand is overvalued and the government is currently discussing what to do about it, Trade and Industry Minister Rob Davies said on Monday.
Davies made the comment at a media briefing in Johannesburg. The rand has gained about 14% against the dollar in the last 12 months, drawing concern from both manufacturers and unions.
A stronger rand is a negative for exporters, as it eats into profits when revenues from abroad are brought home.
http://www.fin24.com/Markets/Currencies/Rand-overvalued-says-minister-20110606
