Pravin Gordhan, South Africa’s Finance Minister, has expressed concern about the volatility in the Rand exchange rate.

“Volatility rate has always been a concern,” he told Reuters.

“Volatility is driven by external events that are beyond our control and that is why we keep emphasizing that the G20 countries need to do more to create stability in the global economy that will lead to less volatility.”

He added that although there are some signs of stabilisation in the global growth, the uncertainity in the global economy has made it difficult for SouthAfrica to be certain in forecasting its economic growth.

Parvin had earlier forecasted a 2.7% growth this year. The Reserve Bank anticipates a 3% growth but not without a warning that global trade condition may pull down this forecasted growth.