Friday, the South African Reserve Bank revealed in a report that the net reserves stood at US$ 33.41 billion in April, down from US$ 33.45 billion in March. Economists had predicted the net reserves US$ 33.6 billion.

Gross reserves dropped to US$ 34.04 billion from US$ 34.1 billion, while the country's gold reserves decreased to US$ 3.54 billion from US$3.70 billion.

Foreign exchange reserves stood at US$ 30.50 billion, declining from US$ 30.40 billion.

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