South African Foreign-Currency Reserves Increase 2% in September

South Africa’s gross gold and foreign currency reserves rose 2 percent in September.

Gross reserves increased to $51 billion last month, the Pretoria-based Reserve Bank said on its website today. The median estimate in a Bloomberg survey of five analysts was for a rise to $50.7 billion. Net reserves rose to $48.8 billion from $48.3 billion.

Gold reserves increased by $459 million to $7.1 billion. The metal gained 4.7 percent last month.

To contact the reporter on this story: Andres R. Martinez in Johannesburg at amartinez28@bloomberg.net

To contact the editor responsible for this story: Nasreen Seria at nseria@bloomberg.net