South Africa Boosts Foreign Reserves to Curb Rand
This article is for subscribers only.
South Africa’s gross reserves rose for a second month in October as the central bank absorbed foreign currency flows from a Japanese takeover of Dimension Data Plc, helping to curb the rand’s gains.
Gold and foreign currency reserves increased 0.3 percent to $44.2 billion, the Pretoria-based Reserve Bank said on its website today. Net reserves rose to $43.1 billion from $40.9 billion.