No. 5 Management of gold and foreign-exchange reserves
Last Modified Date:
2021-04-12, 02:19 PM
Fact Sheet > Fact Sheet
The official gold and foreign exchange reserves (reserves) of the Republic of South Africa are held and managed by the South African Reserve Bank (SARB). The mission of the Financial Markets Department (FMD), a department within the SARB, is to contribute to the formulation of monetary and financial stability policies, implement monetary policy, manage official reserves and provide treasury services to the SARB’s clients.
This fact sheet provides a broad outline of the management of reserves and, in particular, the foreign exchange reserves. It explains what foreign exchange reserves are, the rationale for holding reserves, the pace of accumulation of reserves in recent years, what reserves management entails, the investment objectives and governance of reserves, and broadly outlines the reserves management function at the SARB.