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South Africa’s Forex reserves at $62.1 billion in June

Foreign exchange reserves in South Africa expanded to $62.100 billion in June from $62.087 billion in May, data by the South African Reserve Bank showed.

It has been the highest level of foreign exchange reserves since March.

The nation’s foreign currency reserves grew to $46.46 billion in June from $46.42 billion in May.

Special Drawing Rights rose to $6.23 billion in June from $6.21 billion in May.

Meanwhile, gold reserves dropped to $9.42 billion from $9.45 billion in the prior month.

The USD/ZAR currency pair settled 0.66% lower at 18.1339 on Friday. For the week, the exotic currency pair edged down 0.26%, as it reversed a gain from the prior week.

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