The South African Reserve Bank reported that South Africa’s positive net international investment position increased from a revised ZAR 1,939 billion at the end of March 2026 to ZAR 2,272 billion at the end of June. Foreign assets rose while foreign liabilities declined, lifting the net position from 24.8% to 28.8% of annual gross domestic product. Foreign assets increased 2.7% to ZAR 10,476 billion, driven by higher portfolio investment valuations as major international equity indices rose, including an 18.2% increase in the S&P 500 Index. Foreign liabilities decreased 0.6% to ZAR 8,204 billion, mainly reflecting lower portfolio investment valuations following a 3.3% decline in the FTSE/JSE All-Share Index and the government’s redemption of a USD 1.25 billion international bond. A 3.9% increase in the rand’s nominal effective exchange value reduced the rand value of both assets and liabilities, with a larger effect on assets.
South African Reserve Bank reports net international investment position rose to ZAR 2,272 billion
The South African Reserve Bank reported that South Africa’s positive net international investment position rose to ZAR 2,272 billion at the end of June 2026 from a revised ZAR 1,939 billion at the end of March. Foreign assets increased 2.7%, driven by higher international equity valuations, while foreign liabilities declined 0.6%.