FX.co ★ South Africa’s Net FX Reserves Edge Lower in May, Signalling Mild Outflows

South Africa’s net foreign exchange reserves slipped marginally in May 2026, easing to USD 73.467 billion from USD 73.757 billion in April 2026, according to data updated on 5 June 2026. The USD 0.29 billion decline points to modest net outflows or valuation effects over the month.

While the movement is relatively small, the slight dip in reserves may draw attention from investors monitoring South Africa’s external buffers and currency resilience. Net FX reserves remain close to recent levels, suggesting that, despite the minor decrease, the country’s overall reserve position is broadly stable heading into the second half of 2026.