S. African Gross Reserves Decrease In January

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South Africa's gross reserves decreased to US$39.5 billion in January from US$39.71 billion in December, the South African Reserve Bank said on Friday. Economists expected the gross reserves to be US$39.7 billion.

Foreign exchange reserves dropped slightly to $32.35 billion in January from US$32.48 billion in December. Gold reserves decreased to US$4.3 billion from US$4.44 billion, while SDR holdings were worth $2.78 billion.

At the same time, South Africa's net reserves stood at US$38.63 billion in January, down from US$38.96 billion in the previous month. Economists expected net reserves to amount to $39.1 billion.

South Africa's gross reserves decreased to US$39.5 billion in January from US$39.71 billion in December, the South African Reserve Bank said on Friday. Economists expected the gross reserves to be US$39.7 billion. (Market News Provided by RTTNews)