South Africa M2 Rises to Record High

South Africa's money supply M2 rose to 6,123.0 billion rand in July 2026, from 6,041.8 billion rand in June, marking a monthly increase. The July figure stands as the highest on record since the series began in December 2001, surpassing the previous peak set in the prior month. Year-over-year, M2 was up from 5,639.6 billion rand in July 2025. The latest reading extends the upward trend observed over the past year, with the series having climbed from 5,850.9 billion rand in January 2026 to the current level, according to the International Monetary Fund.