Information notice on the official gold and foreign exchange reserves of theSouth African Reserve Bank as at 28 February 2006 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 28 February 2006, 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 at28 February 2006(‘Million)As at31 January 2006(‘Million)Change (‘Million)Gold reserves '1$2 220$2 277-$57Foreign exchange reserves$20 234$19 889$345Gross reserves$22 454$22 166$288Foreign loans-$3 498-$3 496-$2Forward position '2$26$28-$2International liquidity position      (Net reserves)$18 982$18 698$284Dollar/Rand exchange rateMarket gold price '1R6.1750$556.875R6.0950$571.225   At the end of February 2006 the official gross gold and foreign exchange reserves amounted to US$22,5 billion and net reserves to US$19,0 billion. The increase in the foreign exchange reserves reflects a combination of valuation adjustments and foreign exchange operations conducted by the Reserve Bank for its own account and on behalf of customers during the month. Gold reserves declined due to a decline in the gold price during February 2006. _____________________________1             Gold in US dollar terms is reflected at middle market rates. For reporting purposes all foreign currency figures have been converted to US dollars at middle market rates at month end.2             The forward position normally reflects unsettled foreign currency spot, forward and swap transactions as well as future interest. ​