SA net reserves edge up slightly

SA net reserves edge up slightly

2014-07-07 09:42

Johannesburg - South Africa's net gold and foreign exchange reserves were slightly higher at $44.828bn in June from $44.506bn in May, data from the Reserve Bank showed on Monday.

Gross reserves, however, fell to $48.647bn at the end of the month, from $49.209bn in May, while the forward position, which represents the bank's unsettled or swap transactions, was slightly lower at $3.117bn from $3.219bn.

  • Nick Athinodorou - 2014-07-07 09:55

    South Africa has adopted a new policy of refusing to sign bilateral investment treaties with other countries, and it recently cancelled its treaties with several European countries (Globe and Mail, Canada) Why does the SA govt spurn foreign investment?? If our economy is on the brink then we should be encouraging invetment - not making it impossible for other countries to trade/invest with us. Perhaps the govt reckons they have enough foreign reserves?

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