FX.co ★ South Africa Forex Reserves Drop to 7-Month Low

South Africa’s gross foreign exchange reserves fell to $74.115 billion in June 2026, down from $76.58 billion in May. This was the lowest level since November 2025, largely reflecting a decline in the US dollar gold price, valuation adjustments, and foreign exchange payments made on behalf of the government. Gold reserves dropped to $16.26 billion from $18.27 billion, while foreign currency reserves edged down to $51.22 billion from $51.66 billion. Special Drawing Rights (SDR) holdings were broadly unchanged at $6.633 billion, compared with $6.648 billion in May. The forward position, which reflects the central bank’s outstanding forward and swap transactions, also remained stable at $0.585 billion, versus $0.584 billion in the previous month.