SA’s net foreign reserves fall to $42.35bn in August

South Africa’s net foreign reserves fell to $42.35 billion (R644.43 billion) in August from $42.44 billion (R645.80 billion) in July, the Reserve Bank said on Friday.

Gross reserves also decreased, to $49.848 billion (R758.60 billion) from $50.511 billion (R768.69 billion), the central bank data showed.

The forward position, which represents the central bank’s unsettled or swap transactions, increased to $2.319 billion (R36.38 billion) in August from $1.790 billion (R27.23 billion) in the previous month.