South Africa’s net foreign reserves rise to $42.414 bln in July

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An employee of Tanaka Kikinzoku Jewelry K.K. displays a gold bar at the company's store in Tokyo, file. REUTERS/Issei Kato

JOHANNESBURG (Reuters) – South Africa’s net foreign reserves rose to $42.414 billion in July from $42.235 billion in June, the Reserve Bank said on Monday.

Gross reserves fell to $46.746 billion from $47.352 billion, the central bank data showed.

The forward position, which represents the central bank’s unsettled or swap transactions, increased to $3.113 billion from $2.464 billion.

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Godwin Okafor is a financial journalist, Internet Social Entrepreneur and the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of Naija247news.com and also sits on the board of Students In Business Awards, (SIBA).

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