South Africa’s government may change its currency policy in Moncler Polo shirtthe second half of this year to help curb the rand’s gains and boost exports, said Peter Attard Montalto, an economist at Nomura International Plc in London. Montalto’s view is based on interviews he had with policymakers in Moncler JacketsSouth Africa last week, including Reserve Bank Governor Gill Marcus, he said in an e-mail to clients today. The rand climbed 1.6 percent against the dollar in Moncler Down Jacketsthe first quarter after surging 28 percent in 2009, reducing the earnings of exporters such as DRDGold Ltd. and making it difficult for the textile industry to compete with cheaper imports. The “overvalued and volatile” rand is the biggest concern for the manufacturing industry, a group of labor unions and businesses said on May 10. “One of the strongest conclusions we took away from our meetings with Moncler Vest Jacketspolicymakers in Pretoria was that a change in currency policy is increasingly likely in the second half,” Montalto said. “We believe there is sufficient pressure” from the ruling African National Congress and its labor union allies, as well as the Economic Development Ministry. The Reserve Bank has said it doesn’t target a specific level formoncler down the rand and will buy foreign currency in the market when conditions allow. The bank’s “core responsibility” is to have a “sound macroeconomic environment and to tackle inflation,” while calls to peg the rand to boost exports are “unrealistic,” Governor Gill Marcus said on May 20. Dollar Optionsmoncler coats The government will probably have a “conservative” approach tomoncler men any currency policy change as it may be concerned about costs and a possible speculative attack, Montalto said. Mexico’s approach of selling dollar options, “may well be the cheapest and most effective method currently under consideration,” he said. In February, Mexico’s central bank began selling dollar options, which moncler women allow the buyers to sell dollars to the central bank in exchange for pesos at a specified future date, to boost foreign cash reserves. The National Treasury may also transfer more funds to the Reserve Bank to moncler coatstep up foreign currency purchases and the government may further ease capital controls to curb the rand’s gains, Montalto said. The changes may be introduced as early as October, when Finance Minister Pravin Gordhan gives his mid-term budget speech, he said. South Africa has slowed the pace ofmoncler vest its dollar purchases since last year, even as the rand gained. Gross gold and foreign currency reserves stood at $42.3 billion at the end of April, according to the central bank.Air Max Misc Vintage Air Max Air Max Plus Zoom Moire+ Air Stab