Economic Buzz: South Africa forex reserves fall to $76.58B

South Africa's gross foreign exchange reserves declined to $76.58 billion in May 2026 from $77.09 billion in April, remaining at their lowest level since December 2025. The drop was mainly driven by lower gold valuations and government-related foreign exchange outflows. Gold reserves fell to $18.27 billion from $18.70 billion, while foreign currency reserves edged down to $51.66 billion. SDR holdings and the central bank's forward position also recorded modest declines during the month.

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