Statement on the Gold and Foreign Exchange Reserves of the Bank
Last Modified Date:
2020-10-08, 02:13 PM
Notices > Information Notice | >
Statement issued by the South African Reserve Bankon the Gold and Foreign Exchange Reservesof the Bank as at 31 December 1998 5 January 1999 The Bank's provisional gross gold and foreign exchange reserves amounted to R31,6 billion as at 31 December 1998, compared to R31,3 billion as at 30 November 1998. The utilisation of foreign credit lines at the end of December 1998 amounted to R18,1 billion, compared to R18,3 billion as at the end of November 1998.The outstanding oversold forward book of the bank was US$24,9 billion at close of business on 31 December 1998, which is unchanged from the end of November 1998.During December the last tranche of SDR76,8 million (R522,5 million) of the International Monetary Fund Compensatory Financing Facility was repaid in addition to the usual outflows relating to year-end settlements.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, 11 January 1999.