South Africa’s total foreign exchange reserves have surged to a record high of $69.161 billion

According to data from the South African Reserve Bank, Gross foreign exchange reserves in South Africa rose to a fresh record high of $69.161 billion in July from 68.415 billion in the previous month.

This was driven by increases in gold reserves ($13.332 billion vs $13.239 billion in June) and foreign currency reserves ($49.395 billion vs $48.652 billion).