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 September 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 September 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 international liquidity positions (net reserves). As at30 September 2006(‘million)As at31 August 2006 (‘million)Change (3) (‘million)Gold reserves (1)$2 400$2 499-$99Foreign exchange reserves$22 250$21 942$308Gross reserves$24 650$24 441$209Foreign loans and deposits-$3 534-$3 547$13Forward position (2)$58$52$6International liquidity position (Net reserves)$21 174$20 946$228Dollar/Rand exchange rateMarket gold price (1)Statutory gold priceR7.7650$601.400R4 669.87R7.1200$626.350R4 459.61 At the end of September 2006 the official gross gold and foreign exchange reserves amounted to US$24,7 billion and net reserves to US$21,2 billion. The increase in the foreign exchange reserves reflects a combination of revaluation adjustments and foreign exchange operations conducted by the SARB for its own account and on behalf of customers. Gold reserves decreased due to a lower gold price at the end of September 2006 when 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 outstanding forward contracts and unsettled foreign currency spot transactions.(3) Figures might not add up due to rounding.