Gold and forex reserves decline

South Africa’s net gold and foreign exchange reserves fell to $41.275 billion (R488bn) in March from $41.923bn in February, yesterday’s data from the Reserve Bank showed. Gross reserves were also down at $46.437bn from $47.19bn and the forward position, which represents the Reserve Bank’s unsettled or swop transactions, fell to $2.702bn from $2.771bn. – Reuters