DEFINITION of 'South African Reserve Bank'

The South African Reserve Bank is the reserve bank of the Republic of South Africa. Its functions include the formulating and implementing of South Africa's monetary policy, ensuring the efficiency of South Africa's financial system and educating South Africa's citizens about the monetary and economic situation of the country. Unlike the reserve banks of most commonwealth nations, the South African Reserve Bank has always been privately owned.

BREAKING DOWN 'South African Reserve Bank'

The South African Reserve Bank was established in 1921 by South Africa's parliament with the Currency and Banking Act of 1921. Prior to the establishment of the reserve bank, South Africa's currency was handled by commercial banks. The South African Reserve Bank is governed by a board of fourteen members which include the governor, three deputy governors, three directors who are appointed by the president and seven members who represent the seven top industries in the country including agriculture, commerce and finance.

RELATED TERMS
  1. Brazil, Russia, India, China And ...

    An acronym for the combined economies of Brazil, Russia, India, ...
  2. Lion economies

    A nickname given to Africa's growing economies.
  3. African Development Bank - ADB

    A financial institution comprising 53 African and 24 non-African ...
  4. West African CFA Franc - XOF

    The currency of eight independent states in West Africa. The ...
  5. Protest Divestment

    The intentional selling of stock or other assets on a large scale ...
  6. Johannesburg Interbank Agreed Rate ...

    The money market rate that is used by South Africa. The rate ...
Related Articles
  1. Investing

    Profitable And Easy Ways To Invest In Africa

    Africa may hold the key to long-term portfolio success.
  2. Investing

    South Africa ETF Vulnerable Amid Political Volatility

    The South Africa ETF could see more downside amid a shakeup in the country's finance ministry.
  3. Investing

    What are Lion Economies?

    Lion economies is the nickname for Africa’s growing economies.
  4. Financial Advisor

    4 ETF Strategies for Growth in Africa for 2016 (EZA,EGPT)

    Invest in the African region with these four methods that outline the ETFs on the market. Learn about ETFs for investing in individual African countries.
  5. Personal Finance

    South State Completes Deal for Southeastern (SSB)

    South State Corp., the parent of South State Bank, announced the completion of its acquisition of Southeastern Bank Financial Corp.
  6. Insights

    The Rise Of Africa

    Africa has all the natural resources a continent could hope for and is just starting to understand its full potential.
  7. Trading

    The New World Of Emerging Market Currencies

    Take advantage of foreign currency markets without stepping out of your house.
  8. Investing

    3 Best Africa ETFs for 2016 (AFK, EZA, GAF)

    Explore detailed analysis of the top three exchange-traded funds that track the African companies, and learn the type of investors these ETFs and suitable for.
  9. Investing

    The 5 Largest Middle East & Africa ETFs (MENA)

    Learn about the five largest Middle Eastern and African equity ETFs. Explore the AUM, trading volume, expense ratio and dividend yield of each ETF.
  10. Trading

    The Fed's Impact On Emerging Markets

    Higher US interest rates could make it more expensive for emerging market borrowers to service their debt commitments.
RELATED FAQS
  1. How does the balance of trade impact currency exchange rates?

    Find out how the balance of trade affects a country's exchange rates and how those exchange rates can, in turn, affect the ... Read Answer >>
  2. How do central banks acquire currency reserves and how much are they required to ...

    A currency reserve is a currency that is held in large amounts by governments and other institutions as part of their foreign ... Read Answer >>
  3. Is there any way to check the historical rates of different currencies?

    Yes, you can create a daily price chart of different currencies going back many years. Price charts can be found on the internet ... Read Answer >>
  4. How are bank reserve requirements determined and how does this affect shareholders?

    Learn how bank reserve requirements are determined and how bank reserves affect shareholders through improved bank stability ... Read Answer >>
  5. What do banks do to control the bank reserve?

    Understand what the Federal Reserve does in order to expand or contract the economy. Learn what depository institutions can ... Read Answer >>
  6. What countries represent the largest portion of the global metals and mining sector ...

    Learn which countries have the largest mining production in the world and how precious metals are a significant source of ... Read Answer >>
Hot Definitions
  1. Fixed Cost

    A cost that does not change with an increase or decrease in the amount of goods or services produced. Fixed costs are expenses ...
  2. Blue Chip

    A blue chip is a nationally recognized, well-established, and financially sound company.
  3. Payback Period

    The length of time required to recover the cost of an investment. The payback period of a given investment or project is ...
  4. Collateral Value

    The estimated fair market value of an asset that is being used as loan collateral. Collateral value is determined by appraisal ...
  5. Fiduciary

    A fiduciary is a person who acts on behalf of another person, or persons to manage assets.
  6. Current Account

    The difference between a nation’s savings and its investment. The current account is defined as the sum of goods and services ...
Trading Center