Statement on the Gold and Foreign Exchange Reserves of the Bank
Last Modified Date:
2020-10-08, 02:07 PM
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Information notice on the official gold and foreign exchange reserves of theSouth African Reserve Bank as at 30 April 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 30 April 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 at30 April 2006(‘million)As at31 March 2006(‘million) Change(‘million)Gold reserves '1$2 566$2 337$229Foreign exchange reserves$21 276$20 632$644Gross reserves$23 842$22 969$873Foreign loans and deposits-$3 808-$3 504-$304Forward position '2$43$34$9International liquidity position (net reserves)$20 078$19 499$579Dollar/Rand exchange rateMarket gold price '1R6.1150$643.500R6.2050$586.150 At the end of April 2006 the official gross gold and foreign exchange reserves amounted to US$23,8 billion and net reserves to US$20,1 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 as well as on behalf of customers. Gold reserves increased due to a higher gold price at the end of April 2006 when compared to the previous month-end. The increase in Foreign Loans and deposits related mainly to a government foreign currency deposit to be applied against a maturing loan later in the year. _____________________________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 outstanding forward and unsettled foreign currency spot transactions.