Statement on the Gold and Foreign Exchange Reserves of the Bank
Last Modified Date:
2020-10-08, 02:06 PM
Notices > Information Notice | >
Information notice on the official gold and foreign exchange reserves of theSouth African Reserve Bank as at 31 August 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 August 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 August 2007(‘million)As at31 July 2007(‘million)Change (‘million)Gold reserves 1)US$2 689US$2 666US$23Foreign exchange reservesUS$27 147US$26 668US$479Gross reservesUS$29 836US$29 334US$502Foreign loans-US$2 504-US$2 503-US$1Forward position 2)US$117US$134-US$17International liquidity position(Net reserves)US$27 449US$26 965US$484Dollar/Rand exchange rateMarket gold price 1)Statutory gold priceR7.1350US$673.700R4 806.85R7.0900US$668.000R4 736.12 At the end of August 2007 the official gross gold and foreign exchange reserves amounted to US$29,8 billion and the international liquidity position to US$27,4 billion. The increase in reserves reflects a combination of valuation adjustments and foreign exchange operations conducted by the SARB for its own account and on behalf of customers. 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.