Africa Banking Currency Economy Finance Forex South Africa

South Africa’s net foreign reserves rose to US$50.5B in August

South Africa’s net foreign reserves rose to US$50.515B in August from US$48.114B in July, the Reserve Bank said on Monday.

Gross reserves fell, to US$55.748B from US$57.876B.

The forward position, which represents the central bank’s unsettled or swap transactions, rose to US$3.761B from US$1.529B, it said.

Also read: The history of Gold and Dollar as the World’s reserve currency

Source: Reuters

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