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.