South Africa Forex Reserves Rise to 3-Month High

Gross foreign exchange reserves in South Africa rose to $75.95 billion in August 2026 from $73.45 billion in the previous month. It marked the largest amount since May, primarily due to an increase in the US dollar gold price, the maturity of forward exchange contracts conducted for liquidity management purposes, and valuation adjustments stemming from movements in foreign exchange and asset prices. These gains were partly offset by foreign exchange payments made on behalf of the government. Gold reserves increased to $17.995 billion from $16.375 billion in July, foreign exchange reserves rose to $51.264 billion from $50.406 billion, and SDR holdings edged up to $6.695 billion from $6.67 billion. Meanwhile, the forward position, which represents the central bank’s unsettled forward and swap transactions, declined to $0.565 billion from $1.185 billion.






