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

South Africa’s central bank Governor Lesetja Kganyago looks on next to finance minister Tito Mboweni as they attend an event to launch a commemorative coin, in Johannesburg, South Africa, June 5, 2019. REUTERS/Mfuneko Toyana/File Photo

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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