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Johannesburg - Finance Minister Pravin Gordhan on Wednesday said it was fortunate that the rand currency was strong right now and helping to cushion the impact of higher international oil and food prices.
"It's a worry in the sense that there's too much volatility," Gordhan said on SABC TV when asked whether the government was concerned about the rand.
"It does have a negative impact on manufacturing," he said, adding that had it not been for currency's strength petrol and food prices would be higher.
"It's fortunate to have a strong rand right now ... We are still concerned about short-term capital," he said. (Reporting by Phumza Macanda)
"It's a worry in the sense that there's too much volatility," Gordhan said on SABC TV when asked whether the government was concerned about the rand.
"It does have a negative impact on manufacturing," he said, adding that had it not been for currency's strength petrol and food prices would be higher.
"It's fortunate to have a strong rand right now ... We are still concerned about short-term capital," he said. (Reporting by Phumza Macanda)
