SARB slows forex buying

The Reserve Bank of South Africa slowed its buying of US dollars to $345m last month from $1,289bn in January, figures published Tuesday showed.

Foreign exchange reserves amounted to $20,234bn, while gold reserves were $2,22bn, the SARB said.

The January figures were far higher than the December purchases of $644m and November's of $125m and confirmed a more aggressive dollar buying policy by the Reserve Bank.

Gross reserves increased to $22,454-billion from $22,166-billion, the bank said in a s

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