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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