Section 1 article

Peg & Reserves

The ZAR/NAD peg, BoN reserve cover, SARB swap usage — the macro variables every cross-border deal prices.

Peg 15 May 2026

BoN Reserve Cover at 4.2 Months: What the Smart Money Is Watching

Namibia's import cover has drifted to within a rounding error of the 4-month floor that historically precedes CMA stress. Here is what the number means, what it has meant before, and what a cross-border investor should be doing with that information right now.

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