Finweek English Edition - - IN BRIEF -

The South African Re­serve Bank’s re­serves dropped to $45.8bn at the end of July, the low­est level since early 2011. The de­cline was partly due to a de­cline in the gold price and the US dol­lar’s ap­pre­ci­a­tion against ma­jor cur­ren­cies. Ac­cord­ing to NKC African Eco­nom­ics, cur­rent re­serves can pro­vide im­port cover for around five months, which is suf­fi­cient to ward off any pay­ment prob­lems. How­ever, re­serves will re­main un­der pres­sure, which will some­what un­der­mine the value of the rand.

The South African Re­serve Bank’s Head­quar­ters in Pre­to­ria

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