South Africa's net reserves dip to 55005 billion in January

 South Africa's net reserves dipped to $55.005 billion in January from $55.309 billion in December, the Reserve Bank said on Monday.

Gross reserves fell to $57.199 billion in January from $57.589 billion in December. The forward position, which represents the central bank's unsettled or swap transactions, dropped to $3.376 billion from $3.404 billion.