SA foreign-exchange reserves fall in January as dollar appreciates
Treasury expected to address tapping into a GFECRA to finance part of the deficit/borrowing requirement
SA’s gold and foreign reserves fell in January mainly due to the decline in the dollar gold price, valuation adjustments due to the appreciation of the dollar as well as foreign exchange payments made on behalf of the government, Reserve Bank data released on Wednesday shows.
Finance minister Enoch Godongwana is scheduled to present the budget on February 21 against the backdrop of a challenging growth outlook and growing demands for increased spending...
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