South Africa’s net foreign reserves fall to $42.87 billion in May

JOHANNESBURG (Reuters) – South Africa’s net foreign reserves fell to $42.872 billion in May from $43.115 billion in April, the Reserve Bank said on Thursday.

A customer counts his U.S. dollar money in a bank in Cairo, Egypt March 10, 2016. E REUTERS/Amr Abdallah Dalsh/File Photo

Gross reserves rose to $51.146 billion from $49.539 billion, the central bank data showed.

The forward position, which represents the central bank’s unsettled or swap transactions, declined slightly to $1.918 billion from $1.933 billion in the previous month.