Statement on the Gold and Foreign Exchange Reserves of the Bank
Last Modified Date:
2020-10-08, 02:11 PM
Notices > Information Notice | >
Statement issued by the South African Reserve Bankon the Gold and Foreign Exchange Reservesof the Bank as at 31 August 2001 4 September 2001 The Bank's provisional gross gold and foreign exchange reserves amounted to R62,8 billion as at 31 August 2001, compared to R61,7 billion as at 31 July 2001. The utilisation of foreign credit lines at the end of August 2001 amounted to R33,6 billion, compared to R20,7 billion as at the end of July 2001.The net open foreign currency position (NOFP) was US$4,8 billion at close of business on 31 August 2001, which remained the same as at the end of July 2001.The outstanding oversold forward book of the Bank was US$8,4 billion at close of business on 31 August 2001, compared to US$9,9 billion as at the end of July 2001.The changes reflected in the foreign credit lines and the oversold forward book is attributable to the draw-down by the South African Reserve Bank during August 2001 of the South African Reserve Bank/National Treasury US$1,5 billion Syndicated Term Loan Facility that was signed on 30 July 2001.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 10 September 2001.