SA’s net foreign reserves fall to $42.44 billion in June

South Africa’s net foreign reserves fell to $42.447 billion (R576.09 billion) in June from $42.872 billion (R581.92 billion) in May, the Reserve Bank said on Friday.

Gross reserves also fell, to $50.582 billion (R686.57 billion) from $51.146 billion (R694.12 billion), the central bank data showed.

The forward position, which represents the central bank’s unsettled or swap transactions, declined to $1.809 billion (R24.55 billion) from $1.918 billion (R26.03 billion) in the previous month.