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South Africa’s Net Foreign Reserves Edges Higher

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

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

The forward position, which represents the central bank’s unsettled or swap transactions, dived to $1.073 billion from $1.347 billion in the previous month. (Reporting by Olivia Kumwenda-Mtambo, Editing by Sherry Jacob-Phillips)

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