Which bank is the central bank of South Africa?

The South African Reserve Bank is the central bank of South Africa.

It was established in 1921 after Parliament passed the Currency and Banking Act of 1920. The institution was created partly in response to monetary and financial conditions after the First World War, making it the oldest central bank in Africa established outside Europe’s colonial central-bank systems.

The bank’s responsibilities include protecting the value of the currency, conducting monetary policy, issuing banknotes and coins, and contributing to financial stability. It works with the government while retaining an operational mandate set out in South Africa’s constitutional and legal framework.

The South African Reserve Bank should not be confused with commercial banks such as Standard Bank or Nedbank. Its headquarters are in Pretoria, and its monetary policy decisions are made by its Monetary Policy Committee.