FX.co ★ South Africa’s Private Credit Growth Hits Over Two-Year High

In August, South Africa experienced a slight increase in private sector credit, with growth recorded at 5.86% compared to the previous month’s 5.84%. Concurrently, the M3 money supply, a comprehensive indicator of money in circulation, reached a new peak at ZAR 5,624,450 million with a year-on-year rise of 6.18%, decelerating from the prior month’s 6.75% increase.