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 31 May 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 31 May 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 at31 May 2006(‘million)As at30 April 2006 (‘million)Change 3 (‘million)Gold reserves '1$2 619$2 566$53Foreign exchange reserves$21 481$21 276$205Gross reserves$24 100$23 842$258Foreign loans and deposits-$3 787-$3 808$21Forward position '2$48$43$5International liquidity position (Net reserves)$20 361$20 078$283Dollar/Rand exchange rateMarket gold price '1R6.6400$656.700R6.1150$643.500 At the end of May 2006 the official gross gold and foreign exchange reserves amounted to US$24,1 billion and net reserves to US$20,4 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. Gold reserves increased due to a higher gold price at the end of May 2006 compared with 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.3 Figures might not add up due to rounding.