South Africa’s net reserves rise 2% to USD 39.587bn in November

By bne IntelliNews December 10, 2009
The central bank said South Africa's net gold and foreignexchange reserves rose by 2% to USD 39.587bn at the end of November. Grossreserves were reported at USD 40.489bn in November from USD 39.788 m/m. Foreignexchange reserves were up USD 150mn at USD 32.914bn and special drawing rightsfrom the International Monetary Fund stood at USD 2.88bn. The central bankindicated it would now report its holdings of special drawing rights separatelyin the monthly release. Reuters said Reserve Bank Governor Gill Marcus saidlast month the bank would continue to build its reserves when appropriate butrepeated that it would not use this to influence the level of the randcurrency.
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