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South Africa's net foreign reserves fall to $43.1 billion in April

Gross reserves also fell to $49.539 billion from $49.979 billion, the central bank data showed.

The South African Reserve Bank. Picture: Supplied.

JOHANNESBURG - South Africa’s net foreign reserves fell to $43.115 billion in April from $43.384 billion in March, the Reserve Bank said on Tuesday.

Gross reserves also fell to $49.539 billion from $49.979 billion, the central bank data showed.

The forward position, which represents the central bank’s unsettled or swap transactions, was lower at $1.933 billion from $1.996 billion in the previous month.

“The decrease of $440 million in the gross reserves reflects the foreign exchange payments made on behalf of the government and the appreciation of the US dollar against most currencies,” the central bank said.