Information notice on the official gold and foreign exchange reserves of theSouth African Reserve Bank as at 31 May 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 31 May 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.  As at31 May 2007(‘million)As at30 April 2007(‘million)Change 3) (‘million)Gold reserves 1)US$2 630US$2 715-US$85Foreign exchange reservesUS$25 225US$24 307US$918Gross reservesUS$27 855US$27 022US$833Foreign loans-US$2 494-US$2 492-US$2Forward position 2)US$122US$63US$59International liquidity position(Net reserves)US$25 483US$24 593US$890Dollar/Rand exchange rateMarket gold price 1)Statutory gold priceR7.1200US$659.100R4 692.79R7.0650US$680.400R4 807.03  At the end of May 2007 the official gross gold and foreign exchange reserves amounted to US$27,9 billion and the international liquidity position to US$25,5 billion. The increase in reserves reflects a combination of valuation adjustments and foreign exchange operations conducted by the SARB for its own account, as well as on behalf of clients.       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. ​