South Africa’s net foreign reserves rise to $45.4 bln in February

South Africa’s net foreign reserves rose to $45.358 billion while gross reserves jumped to $54.6bn in February Reserve Bank data showed on Friday. 

Gross reserves increased from $54.613 billion at the end of January.

The forward position, representing the central bank’s unsettled or swap transactions, increased to a balance of $642 million in February after a positive balance of $547 million previously.

South Africa entered a technical recession last week