Swaziland to Keep Currency Peg as State Runs Out of Cash

Swaziland, where the government is running out of cash to pay its workers, will keep its currency peg with South Africa’s rand as it seeks funding to boost foreign exchange reserves, central bank Governor Martin Dlamini said.

Reserves stood at about 4 billion rand ($594 million) as of June 28, enough to cover 2.3 months of imports, Dlamini said in a June 29 interview in South Africa’s capital, Pretoria.