Information notice on the official gold and foreign exchange reserves of theSouth African Reserve Bank as at 31 May 2005 This notice provides details of the US dollar equivalent of the level of the Reserve Bank’s official gold and foreign exchange reserves as at 31 May 2005 published today in the Bank’s Statement of Assets and Liabilities. The notice also provides details of the level of outstanding foreign loans, the foreign exchange forward and the international liquidity position (net reserves).   As at31 May 2005(‘million)As at30 April 2005(‘million)Change (‘million)Gold reserves '1$1,652$1,724-$72Foreign exchange reserves$15,535$14,318$1 217Gross reserves$17,187$16,042$1 145Foreign loans-$3,478-$3,486$8Forward position '2-$8-$16$8International liquidity position  (net reserves)$13,701$12,540$1 161Rand/Dollar exchange rateMarket gold price '1R6.7150$414.675R6.1000$432.650   At the end of May 2005 the official gross gold and foreign exchange reserves amounted to US$17,2 billion and net reserves to US$13,7 billion. The increase in reserves levels reflects a combination of foreign exchange operations conducted by the Reserve Bank for own account as well as on behalf of customers, including foreign exchange purchases arising from a FDI transaction.    _____________________________1 Gold in US dollar terms is reflected at middle market rates. For reporting purposes all foreign currency figures have been converted to US dollar at middle market rates at month end.2   The forward position is made up of unsettled foreign currency spot, forward and swap transactions. ​