Johannesburg - South Africa's net gold and foreign exchange reserves fell to $48.431 billion at the end of November from $48.626 billion in October, data from the Reserve Bank showed on Friday.

Gross reserves rose to $50.813 billion in November from $50.678 billion in October while the forward position, which represents the bank's unsettled spot or swap transactions, fell to $5.320 billion from $5.595 billion in October. - Reuters