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S. Africa's International Reserves Decrease Marginally

South Africa's international reserves declined modestly in April, data released by the South African Reserve Bank showed Tuesday.

Net international reserves decreased to $48.8 billion in April from $48.91 billion in March. Economists had forecast an increase to $49.1 billion.

Gross reserves fell to $49.9 billion during the month from March's $50.68 billion. Economists had forecast a slight increase to $50.93 billion.

The value of South Africa's gold reserves was almost steady at $6.68 billion compared to $6.70 billion in March. Special drawing rights (SDR) remained broadly unchanged at $2.77 billion.

Total foreign exchange reserves edged down to $40.5 billion from $41.21 billion in the preceding month.

by RTTNews Staff Writer

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