The currency has been a top emerging markets performer, strengthening some 2.5 against the US dollar since the start of the year while most of the rands peers have suffered losses against the greenback.
There should be positive momentum and that positive momentum is not going to be something just driven by the markets, Kganyago said in an interview on Thursday on the sidelines of the International Monetary Fund and World Bank annual meetings in Washington.
Its going to be whether government continues to act with resolve and stays the path in terms of prudent policies and structural reforms going forward, he said, adding that momentum for reforms would not just bolster the currency but could also support the countrys bonds and stocks.
National treasury has announced a number of reforms in the energy, freight, water and telecommunications sectors, and has pledged to reduce spending and raise revenue as well as take further steps to lower borrowing over the medium term.
