Statement on the Gold and Foreign Exchange Reserves of the Bank
Last Modified Date:
2020-10-08, 02:12 PM
Notices > Information Notice | >
Statement issued by the South African Reserve Bankon the Gold and Foreign Exchange Reservesof the Bank as at 31 May 1999 3 June 1999 The Bank's provisional gross gold and foreign exchange reserves amounted to R34,3 billion as at 31 May 1999, compared to R33,7 billion as at 30 April 1999. The utilisation of foreign credit lines at the end of May 1999 amounted to R16,4 billion, compared to R17,3 billion as at the end of April 1999.The outstanding oversold forward book of the Bank was US$22,2 billion at close of business on 31 May 1999, compared to US$23,3 billion at the end of April 1999.During May 1999 the Bank purchased approximately US$1 billion from the South African Government, being the proceeds of two bond issues. This amount was applied against the outstanding forward book and, consequently, is not reflected in the Bank's gold and foreign exchange reserves.Any possible changes to these preliminary figures will be reflected in the Bank's monthly Statement of Assets and Liabilities to be published on Wednesday, 9 June 1999.