Fin24

SA forex reserves rise in July

2012-08-07 08:43

Johannesburg - South Africa’s net gold and foreign exchange reserves inched up to $47.975bn at the end of July from $47.936bn in June, data from the Reserve Bank showed on Tuesday.

Gross reserves were also slightly higher at $49.398bn in July from $49.218bn in the previous month while the forward position, which represents the bank’s unsettled spot or swap transactions, fell to $6.092bn from $6.221bn in June.