(RTTNews) - Friday, the South African Reserve Bank announced that the gross reserves stood at US$39.8 billion in October, up from US$39.1 billion in September. Economists expected a gross reserves US$40.1 billion for October.

At the same time, gold reserves increased to US$4.2 billion from US$4.02 billion in September, while the foreign exchange reserves climbed to US$35.6 billion from US$39.1 billion.

Meanwhile, net reserves amounted to US$38.8 billion in October, up from US$37.9 billion in September.

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