South Africa’s gross gold and forex reserves fell to US$34.3bn at the end of August, under the impact of the stronger US$ in the month. The valuation of US$ gold reserves declined by US$336 million to US$3.7bn as the gold price fell sharply in the month.

Forex reserves were also US$336 lower and ended the month at US$31.0bn. The rand depreciated 5% against the US$ in the month.