South Africa’s gross foreign exchange reserves expanded by $2.5 billion to reach $75.95 billion in August 2026, up from $73.45 billion recorded in July, official figures show.
According to official balance sheet data released by the South African Reserve Bank (SARB) on Monday, the figure represents the highest total reserve position for Africa’s most industrialized economy since May 2026.
A breakdown of the central bank’s holdings reveals that the valuation of gold reserves recorded the most substantial gain, climbing to $17.995 billion from $16.375 billion in the previous month.
The total foreign currency assets also increased noticeably to $51.264 billion in August, compared to $50.406 billion tracked at the end of July.
Special Drawing Rights (SDR) holdings maintained by the South African Reserve Bank edged up slightly to $6.695 billion, compared with $6.670 billion recorded in the preceding period.
Conversely, the central bank’s overall forward position declined significantly, dropping from $1.185 billion in July to $0.565 billion by the close of August.
Monetary authorities attributed the reserve surge to elevated international spot gold prices, valuation adjustments from foreign currency movements, and the maturity of liquidity management forward contracts.
These reserve gains were partially offset by routine foreign exchange operations and debt servicing payments executed on behalf of the national government.
The surge builds on a sustained trajectory of reserve growth in 2026, driven by global central bank gold demand and favorable commodity price dynamics across southern African export markets.
