South Africa’s net foreign reserves rose to $44.897 billion in December from $44.415 billion in November, Reserve Bank data showed on Wednesday.

Gross reserves increased to $55.058 billion at the end of December from $54.893 billion in the previous month.

The forward position representing the central bank’s unsettled transactions, or swap, showed a negative balance of $64 million in December after a positive balance of $31 million in November.