SA Gold, Exchange Reserves Rise

Source: China Post (5/10/11)

"Net gold and foreign exchange reserves rose to US$46.04B in April."

China Post

South Africa's net gold and foreign exchange reserves rose in April to US$46.04 billion, from US$44.73 billion the previous month, data released Monday by the Reserve Bank showed. Gross figures were affected by valuation adjustments associated with the increase in the price of gold in dollars and the depreciation of the greenback, the bank said. The bank also made foreign currency purchases.

The South African Reserve Bank will announce its next monetary policy decision on Thursday. Analysts largely expect the target lending rate to remain unchanged at 5.5%.

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