Statement on the Gold and Foreign Exchange Reserves of the Bank
Last Modified Date:
2020-10-08, 02:06 PM
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Information notice on the official gold and foreign exchange reserves of theSouth African Reserve Bank as at 28 February 2007 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 2007, 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 at28 February 2007(‘million)As at31 January 2007(‘million)Change (3) (‘million)Gold reserves (1)US$2 688US$2 574US$114Foreign exchange reservesUS$23 655US$23 308US$347Gross reservesUS$26 343US$25 882US$461Foreign loans-US$2 690-US$2 700US$10Forward position (2)US$83US$97-US$14International liquidity position (Net reserves)US$23 736US$23 279US$457Dollar/Rand exchange rateMarket gold price (1)Statutory gold priceR7.2650US$673.750R4 894.79R7.2600US$645.200R4 684.15 At the end of February 2007 the official gross gold and foreign exchange reserves amounted to US$26,3 billion and net reserves to US$23,7 billion. The increase in reserves reflects a combination of valuation adjustments, as well as the SARB’s usual foreign exchange operations. (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.