For the first time ever recorded, the rand's slump led to the value of South African assets abroad surpassing foreign investment into the country.
The Reserve Bank said:
"The volatility and decline in domestic and global equity markets as well as the significant decline in the end-of-period exchange rate of the rand resulted in a respective modest decline in foreign liabilities and a substantial increase in South Africa's foreign assets,"
In a statement on its website, the Central Bank said that the difference between South African foreign assets and liabilities swung to a surplus of R113 billion at the end of September, from a deficit of R131 billion at the end of June. According to Bloomberg, this is the first positive reading since the Pretoria-based bank began recording data some six decades ago.
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