The Reserve Bank announces fall of $42.87 billion in month of May for South Africa’s net foreign reserves

PUBLISHED: Thu, 07 Jun 2018 13:44:38 GMT

JOHANNESBURG (Reuters) – South Africa’s net foreign reserves fell to $42.872 billion in May from $43.115 billion in April, the Reserve Bank said on Thursday.

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Gross reserves rose to $51.146 billion from $49.539 billion, the central bank data showed.

The forward position, which represents the central bank’s unsettled or swap transactions, declined slightly to $1.918 billion from $1.933 billion in the previous month.

Reporting by Olivia Kumwenda-Mtambo; Editing by David Goodman