South Africa’s foreign assets continue to exceed its foreign liabilities, according to Reserve Bank figures released on Friday.
The positive net international investment position declined from R452bn at the end of June to R378bn at the end of September as the country’s foreign liabilities rose and foreign assets declined somewhat, the Bank said.
"The market value of South Africa’s foreign liabilities (inward investment) advanced for a fourth consecutive quarter up to the end of September 2016. However, the pace of increase slowed to 0.7% in the third quarter ie from R5,750bn at the end of June 2016 to R5,788bn at the end of September. The increase in the country’s foreign liabilities reflected marginal increases in the market value of all functional categories, except direct investment."
The Bank said while the JSE all-share index declined 0.5% from end-June to the end-September, portfolio investment liabilities rose mainly on nonresident acquisitions of domestic debt securities.
"Other investment" liabilities increased mainly on account of an increase in short-term loan liabilities of the banking sector. However, the increase in the country’s foreign liabilities was countered by the 5.7% appreciation of the exchange rate of the rand against the US dollar, it said.
The positive net international investment position declined from R452bn at the end of June to R378bn at the end of September as the country’s foreign liabilities rose and foreign assets declined somewhat, the Bank said.
"The market value of South Africa’s foreign liabilities (inward investment) advanced for a fourth consecutive quarter up to the end of September 2016. However, the pace of increase slowed to 0.7% in the third quarter ie from R5,750bn at the end of June 2016 to R5,788bn at the end of September. The increase in the country’s foreign liabilities reflected marginal increases in the market value of all functional categories, except direct investment."
The Bank said while the JSE all-share index declined 0.5% from end-June to the end-September, portfolio investment liabilities rose mainly on nonresident acquisitions of domestic debt securities.
"Other investment" liabilities increased mainly on account of an increase in short-term loan liabilities of the banking sector. However, the increase in the country’s foreign liabilities was countered by the 5.7% appreciation of the exchange rate of the rand against the US dollar, it said.
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