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Johannesburg - South Africa's net gold and foreign exchange reserves were slightly lower at $44.506 billion in May from $44.857 billion in April, data from the Reserve Bank showed on Friday.

Gross reserves also dipped to $49.209 billion at the end of the month, from $49.555 billion in April, while the forward position, which represents the bank's unsettled or swap transactions, was slightly lower at $3.219 billion from $3.281 billion. - Reuters