Gold and forex reserves rise

SA's NET gold and foreign exchange reserves jumped 2,6% at the end of September, boosted by another IMF allocation and foreign bond funds.

SA's NET gold and foreign exchange reserves jumped 2,6% at the end of September, boosted by another IMF allocation and foreign bond funds.

Central bank data yesterday showed reserves rose to R282billion from R274billion month-on-month. Governor Tito Mboweni said reserves had jumped after SA "creamed off" dollars in the market due to a strong rand. - Reuters

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