Sarb to start rand reverse repos to manage market liquidity

South Africa’s central bank said on Friday it would start short-term rand buy-sell backs, or reverse repurchases, of up to one month, with commercial lenders in a bid to further manage liquidity in money markets.

“The buy-sell backs will be conducted on an ad hoc basis, as and when required,” the South African Reserve Bank (SARB) said in a statement, adding the sum on offer would be at its discretion.