SA net forex reserves increase by 2,3%

South Africa’s net gold and foreign exchange reserves increased by 2,3% to $38,784 billion at the end of October from $37,914 billion in September, official data showed on Friday.


Gross reserves stood at $39,788 billion in October from $39,142 billion, the central bank said in its statement.

Net foreign currency holdings rose by $488 million to $35,601 billion, while gold reserves climbed by $158 million to $4,187 billion. A drop in foreign deposits, after the government withdrew money to meet obligations, also helped boost net reserves.

neil@directinvestment.biz