Latest data shows that South Africa’s foreign reserves reached US $62.5 billion in December 2023, up from US $61.7 billion in November 2023, according to BusinessDay South Africa reports. In Nigeria, the 30-day moving average of the country’s foreign reserves, both gross and liquid, shows an uptick from December 18 last year, according to Central Bank of Nigeria (CBN) data. In Egypt, foreign exchange reserves rose to US $35.2 billion in December 2023, the highest since May 2022, according to data from Trading Economics.
