Technical note regarding the net open foreign currency position
Last Modified Date:
2020-10-08, 02:10 PM
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Selected monthly data released by the South African Reserve Bank today, 29 August 2003, show that the positive net open foreign currency position (NOFP) of the Bank has declined by US$215 million from US$1,082 million as at the end of June 2003 to US$867 million as at the end of July 2003. The decline in the positive NOFP is attributable to a combination of factors, including valuations, foreign exchange operations and loan portfolio restructuring, but data pertaining to the month of July also includes the repayment of a US$750 million loan on behalf of the South African Government.