Information notice on the official gold and foreign exchange reserves of theSouth African Reserve Bank as at 31 December 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 December 2006, published today in the Bank’s Statement of Assets and Liabilities. The notice also provides details of the level of outstanding foreign loans, foreign exchange forward and international liquidity positions (net reserves).  As at31 December 2006(‘million)As at30 November 2006(‘million)Change (3) (‘million)Gold reserves (1)US$2 530US$2 552-US$22Foreign exchange reservesUS$23 083US$22 487US$596Gross reservesUS$25 613US$25 039US$574Foreign loans-US$2 754-US$3 000US$246Forward position (2)US$129US$132-US$3International liquidity position              (Net reserves)US$22 988US$22 171US$817Dollar/Rand exchange rateMarket gold price (1)Statutory gold priceR6.9700US$634.100R4 419.68R7.2500US$639.600R4 637.10  At the end of December 2006 the official gross gold and foreign exchange reserves amounted to US$25,6 billion and net reserves to US$23 billion. The increase in gross reserves reflects a combination of the Bank’s usual foreign exchange operations for its own account and for clients, as well as revaluation adjustments. The improvement in net reserves includes a reduction in foreign loans resulting from a prepayment of US$250 million of a 3-year US$1 billion syndicated loan entered into in 2004._______________________________________________________________________(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. ​