JOHANNESBURG: South Africa’s net foreign reserves rose to $63.167 billion at the end of March from $61.733 billion in February, central bank data showed on Monday.

Gross reserves increased to $67.450 billion in March from $66.264 billion the prior month.

South African rand hit by double whammy of tariffs and shaky coalition

The forward position, which represents the central bank’s unsettled or swap transactions, fell to $0.526 billion from $0.531 billion.