South Africa Forex Reserves Hit Record High

Gross foreign exchange reserves in South Africa rose to $80.193 billion in January 2026, the largest value since records began in 1998, from $75.892 billion in the previous month.

This was driven by increases in gold reserves ($20.670 billion vs $17.493 billion in December 2024), SDR holdings ($6.666 billion vs $6.604 billion), and foreign currency reserves ($52.857 billion vs $51.795 billion).

Meanwhile, the forward position, representing the central bank's unsettled or swap transactions, decreased sharply to $0.564 billion in January from $1.161 billion in the prior month.