Statement on the Gold and Foreign Exchange Reserves of the Bank
Last Modified Date:
2020-10-08, 02:10 PM
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Information notice on the Gold and Foreign Exchange Reserves of the South African Reserve Bank as at 31 August 2003 5 September 2003 This notice provides details of the US dollar and rand equivalent of the level of the Reserve Bank’s gold and foreign exchange reserves as at 31 August 2003 published today in the Bank’s Statement of Assets and Liabilities. As at31 August 2003As at31 July 2003 Gold$1 311millionR9 607million$1 291millionR9 629 million Foreign Exchange$6 462 millionR47 334 million$6 461 millionR48 197 million Gold and Foreign Exchange Reserves$7 773 millionR56 941 million$7 752 millionR57 826 million The increase in the US dollar equivalent of the gold reserves is attributable to the stronger gold price, while the decrease in the rand value of the foreign exchange reserves is attributable to the stronger dollar/rand exchange rate.