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19 Oct 2010 13:47
South Africa’s economic recovery remains fragile and prevailing growth rates are insufficient to have a marked impact on unemployment, Reserve Bank Governor Gill Marcus said on Tuesday.
Marcus also told an investor lunch in Cape Town there was no doubt the rand currency, which has gained about 28% against the dollar since the beginning of 2009, was over-valued, adding, however, there were no guarantees intervention in the market would work.—Reuters
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