• A new DIY economy

    Reinventing society will be an opportunity to create a better future, says Ian Mann.

  • Healthcare headache

    State healthcare strategies must be more than political posturing, says Mzwandile Jacks.

  • Buzzwords and truths

    Mandi Smallhorne discusses her beef with the terms 'savings' and 'entrepreneurship'.

Loading...
See More

SA's forex reserves rise

Sep 07 2012 08:52
Reuters

Johannesburg - The South African Reserve Bank’s (Sarb’s) dollar-denominated holdings of gold and foreign assets rose by $593m to $49.991bn in August‚ from $49.398bn in July‚ data released by the bank on Friday showed.

Foreign exchange reserves were up $420m to $40.592bn from $40.172bn‚ while gold reserves gained $149m to $6.679bn from $6.530bn.

The international liquidity position rose by $304m to $48.278bn from $47.974bn in July.

At the end of August 2012‚ the gross gold and foreign exchange reserves and the international liquidity position (ILP) increased by $593m and $304m to $50.0bn and $48.3 billion‚ respectively.

The Reserve Bank noted that the change in gross reserves reflected valuation adjustments emanating from a higher US dollar gold price‚ the depreciation of the US dollar against other major currencies‚ and the settlement of maturing foreign-exchange swaps used to accumulate reserves.

The increase in the ILP reflected the increase in the gross reserves which was partially offset by the decline in the forward position and an increase in the foreign currency deposits received‚ the Sarb reported.


*Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

 
foreign exchange reserves

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're Talking About...

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Introducing tablets in schools is:

Previous results · Suggest a vote

Loading...