Forex re­serves sta­ble

Finweek English Edition - - ECONOMICTRENDS -

net for­eign ex­change re­serves were more or less sta­ble in March, fol­low­ing a pe­riod of in­creases. The net re­serves in­creased as the SA Re­serve Bank in­ter­vened in the cur­rency mar­ket to pre­vent the rand from strength­en­ing. The Bank swapped the forex ob­tained into the money mar­ket, which pre­vented the gross re­serves from ris­ing. But in March, gross re­serves in­creased.

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