SA's net gold and foreign exchange reserves rose in June, suggesting that the Reserve Bank has been taking advantage of a steadier rand, notes Fin24.

The Reserve Bank said on its site that net reserves increased to $25.94bn in June from $25.48bn at the end of May, while gross reserves were up at $28.28bn from $27.85bn the previous month. The domestic currency lost nearly 10% of its value against the greenback last year under the weight of a nagging current account deficit but has fared better in 2007. It is only down 0.52% from its levels at the start of the year.
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