SA’s net foreign reserves rise to $44.897 bln in December

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South African Reserve Bank Governor Lesetja Kganyago attends IMFC press conference during the IMF/World Bank spring meeting in Washington, U.S., April 21, 2018. REUTERS/Yuri Gripas

JOHANNESBURG (Reuters) – South Africa’s net foreign reserves rose to $44.897 billion in December from $44.415 billion in November, Reserve Bank data showed on Wednesday.

Gross reserves increased to $55.058 billion at the end of December from $54.893 billion in the previous month.

The forward position representing the central bank’s unsettled transactions, or swap, showed a negative balance of $64 million in December after a positive balance of $31 million in November.

Reporting by Olivia Kumwenda-Mtambo; editing by Helen Reid

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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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