FX.co ★ South Africa Forex Reserves Fall in September

South Africa’s gross foreign exchange reserves edged down to $75.43 billion in September 2026, from a three-month high of $75.95 billion in August. The decline was primarily driven by a lower US dollar gold price, valuation adjustments to foreign exchange and other assets, and foreign exchange payments executed on behalf of the government. Gold reserves fell to $16.90 billion from $18.00 billion, while SDR holdings eased to $6.67 billion from $6.70 billion. In contrast, the forward position—reflecting the central bank’s unsettled forward swaps—increased to $0.587 billion from $0.565 billion, and foreign exchange reserves rose to $51.87 billion from $51.26 billion in the previous month.