Statement on the Gold and Foreign Exchange Reserves of the Bank
Last Modified Date:
2020-10-08, 02:08 PM
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Embargo: 08:00 on Monday, 9 January 2006 Information notice on the official gold and foreign exchange reserves of theSouth African Reserve Bank as at 31 December 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 December 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 December 2005(‘million)As at30 November 2005(‘million) Change (‘million)Gold reserves '1$2 050$1 972$78Foreign exchange reserves$18 600$17 936$664Gross reserves$20 650$19 908$742Foreign loans-$3 491-$3 496$5Forward position '2$27$76-$49International liquidity position (net reserves)$17 186$16 488$698Rand/Dollar exchange rateMarket gold price '1R6.3250$514.375R6.4800$494.800 At the end of December 2005 the official gross gold and foreign exchange reserves amounted to US$20,7 billion and net reserves to US$17,2 billion. The increase in foreign exchange reserves reflects a combination of valuation adjustments and foreign exchange operations conducted by the Reserve Bank for its own account as well as on behalf of customers. The value of gold reserves rose owing to an increase in the gold price at the end of December 2005 compared to the previous month-end. _____________________________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.