The South African Reserve Bank (SARB) is South Africa’s central bank, whose main purpose is to maintain price stability for sustainable economic growth within the country. SARB was established in the year 1921 after the passing of the “Currency and Bank Act of 10 August 1920” in Parliament. Before the Bank was established, South African commercial banks issued banknotes to the public.

The SARB are responsible for the following: ensuring that the banking, money and financial system in South Africa achieves the community requirements and keeps up to date with international developments, as well as helping the government (and other economic community members) of South Africa with data for macroeconomic policy, and lastly to provide the South African community and international stakeholders with feedback regarding the countries monetary policy and economic standing.