SA's forex reserves lower
South Africa’s international liquidity position declined more than expected in November as gross reserves decreased on a stronger dollar against major currencies, causing a descent in foreign currency reserves.
The SA Reserve Bank (Sarb) stated that net gold and foreign exchange reserves dropped to $48.633bn in November from $49.221bn in October, also as the forward position of the bank declines.
Analysts don’t think the bank was actively accumulating reserves in November as that would raise the volatility of the rand.
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