South Africa's net gold and foreign exchange reserves stood at $44.451 billion at the end of January from $43.353 billion in December, data from the Reserve Bank showed on Monday.

Gross reserves rose to $45.471 billion in January from $43.834 billion, the central bank said in a statement posted on its website.

The forward position, which represents the bank's unsettled spot or swap transactions, was at $4.312 billion compared with $4.183 billion in December.