Statement on the Gold and Foreign Exchange Reserves of the Bank
Last Modified Date:
2020-10-08, 02:08 PM
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Information notice on the official gold and foreign exchange reserves of theSouth African Reserve Bank as at 30 June 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 30 June 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 at30 June 2005(‘million)As at31 May 2005 (‘million) Change(‘million)Gold reserves '1$1,744$1,652$92Foreign exchange reserves$16,935$15,535$1 400Gross reserves$18,679$17,187$1 492Foreign loans-$3,495-$3,478-$17Forward position '2-$8-$8$0International liquidity position (net reserves)$15,176$13,701$1 475Rand/Dollar exchange rateMarket gold price '1R6.6500$437.650R6.7150$414.675 At the end of June 2005 the official gross gold and foreign exchange reserves amounted to US$18,7 billion and net reserves to US$15,2 billion. The increase in the foreign exchange component of the gross reserves reflects a combination of foreign exchange operations conducted by the Reserve Bank for its own account as well as on behalf of customers including foreign exchange purchases arising from a FDI transaction. Gold reserves improved due to a higher gold price at the end of June 2005 when compared to the previous month. _____________________________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.