South Africa’s net foreign reserves rise to $42.9 bln in December

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A street money changer counts South African Rands in Harare, Zimbabwe, May 5, 2016. REUTERS/Philimon Bulawayo

JOHANNESBURG (Reuters) – South Africa’s net foreign reserves rose to $42.927 billion in December from $42.689 billion in November, the Reserve Bank said on Monday.

Gross reserves also increased, to $50.722 billion from $50.297 billion, the central bank data showed.

The forward position, which represents the central bank’s unsettled or swap transactions, decreased to $1.196 billion from $1.732 billion.

Reporting by Mfuneko Toyana; Editing by Joe Brock

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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