South Africa's central bank gross reserves declined more-than-expected in August with both gold and foreign exchange reserves decreasing.
Gross reserves fell to $45.71 billion from $46.15 billion at the end of July, the South African Reserve Bank said Wednesday. Economists had forecast $46 billion reserves.
The central bank attributed the decrease in reserves mainly to the decline in the US dollar gold price and foreign exchange payments made on behalf of the government.
Gold holdings declined to $5.28 billion from $5.39 billion in the previous month. Foreign exchange reserves dropped to $37.93 billion from $38.28 billion.
For comments and feedback: editorial@rttnews.com