Gross foreign exchange reserves in South Africa rose to a fresh record high of $69.161 billion in July from 68.415 billion in the previous month. This was driven by increases in gold reserves ($13.332 billion vs $13.239 billion in June) and foreign currency reserves ($49.395 billion vs $48.652 billion). Meanwhile, SDR holdings decreased by ($6.434 billion vs $6.524 billion). Additionally, the forward position, representing the central bank’s unsettled or swap transactions, increased to $0.535 billion in June from $0.532 billion in the prior month.
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