Statement on the Gold and Foreign Exchange Reserves of the Bank
Last Modified Date:
2020-10-08, 02:14 PM
Notices > Information Notice | >
Statement issued by the South African Reserve Bankon the Gold and Foreign Exchange Reservesof the Bank as at 30 June 1997 1 July 1997 The Bank's provisional gross gold and foreign exchange reserves amounted to R22,1 billion as at 30 June 1997, compared to R21,8 billion as at 31 May 1997. The utilisation of foreign credit lines at the end of June 1997 was unchanged at R1,8 billion. The proceeds of the Government's Samurai Bond issue of Yen 40 billion (R1 574,7 million) accrued to the reserves during June 1997. Identifiable outflows for the quarter-end were in excess of R2 200 million, which amount includes the second instalment of the International Monetary Fund Compensatory Financing Facility of SDR 76,8 million (R465,4 million). The proceeds of the Yankee Bond issue of US$ 500 million (R2 200 million) are not included in the June reserve figures.Any possible changes to these preliminary figures will be reflected in the Bank's monthly Statement of Assets and Liabilities to be published on Monday, 7 July 1997.