South Africa’s gross foreign exchange reserves fell for the third consecutive month, declining to $74.51 billion in October 2026 from $75.43 billion in September. The decrease was driven mainly by a lower US dollar gold price, which reduced the value of gold reserves to $16.00 billion from $16.90 billion. Special Drawing Rights (SDR) holdings also edged down slightly to $6.64 billion, compared with $6.66 billion in the previous month.
By contrast, foreign exchange reserves were broadly unchanged at $51.88 billion, versus $51.87 billion in September. The forward position, reflecting the central bank’s unsettled forward swap contracts, declined marginally to $582 million from $587 million. Foreign currency deposits received also decreased, to $3.55 billion from $3.76 billion.
As a result, South Africa’s overall international liquidity position slipped to $71.55 billion in October, from $72.26 billion in September.
