In addition, the country's gross reserves fell to $50.511 billion in July, down from $50.582 billion.
According to the Reserve Bank, South Africa‘s net foreign reserves fell to $42.440 billion in July, a small drop from where they were in June, at $42.447 billion. The central bank data also shows that gross reserves fell to $50.511 billion, down slightly from $50.582 billion.
According to Reuters, the forward position, which represents the central bank’s unsettled or swap transactions, decreased to $1.790 billion in July, from $1.809 billion in June.
Pictured: Lesetja Kganyago, governor of the SA Reserve Bank
