Views Article – Sharenet Wealth

Africa, Forex

South Africa’s net foreign reserves fall to $44.058 bln in September

JOHANNESBURG (Reuters) – South Africa’s net foreign reserves fell to $44.058 billion in September from $44.226 billion in August, Reserve Bank data on Monday.

But gross reserves jumped to $54.856 billion at the end of September from $49.948 billion the previous month, mainly reflecting the proceeds from foreign debt issuance by National Treasury, central bank data showed.

The forward position representing the central bank’s unsettled, or swap, transactions showed a negative balance of $78 million in September from a positive balance of $231 million in August.

(Reporting by Olivia Kumwenda-Mtambo; Editing by Shri Navaratnam)

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