South Africa’s foreign reserves rise to $42.5b


President Cyril Ramaphosa of South Africa.

President Cyril Ramaphosa of South Africa.

South Africa’s net foreign reserves rose to 42.577 billion dollars in November from 42.194 billion dollars in October, the Reserve Bank has said.

Gross reserves edged higher, touching 50.672 billion dollars in November compared with 50.166 billion dollars the previous month, the central bank data showed.

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The forward position, which represents the central bank’s unsettled or swap transactions, increased to 1.073 billion dollars from 1.347 billion dollars in the previous month.

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