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Johannesburg - South Africa's net gold and foreign exchange reserves rose to $48.130 billion at the end of January from $47.948 billion in December, data from the Reserve Bank showed on Thursday.

Gross reserves rose to $51.227 billion in January from $50.735 billion in December while the forward position, which represents the bank's unsettled spot or swap transactions, was lower at $4.791 billion from $5.234 billion in December. - Reuters