Information notice on the official gold and foreign exchange reserves of theSouth African Reserve Bank as at 30 September 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 30 September 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 at30 September 2007(‘million)As at31 August 2007(‘million)Change (‘million)Gold reserves (1)US$2 957US$2 689US$268Foreign exchange reservesUS$27 566US$27 147US$419Gross reservesUS$30 523US$29 836US$687Foreign loans-US$2 253-US$2 504US$251Forward position (2)US$151US$117US$34International liquidity position(Net reserves)US$28 421US$27 449US$972Dollar/Rand exchange rateMarket gold price (1)Statutory gold priceR6.8700US$740.700R5 088.61R7.1350US$673.700R4 806.85  At the end of September 2007 the official gross gold and foreign exchange reserves amounted to US$30,5 billion and the international liquidity position to US$28,4 billion. The increase in reserves reflects a combination of valuation adjustments and foreign exchange operations conducted by the SARB for its own account and on behalf of customers. The valuation impact was more pronounced than usual during September 2007 as a result of exchange rate movements and a significant increase in the US$ price of gold. The improvement in the international liquidity position also reflects the prepayment of US$250 million of the 5 year US$1,5 billion dual currency syndicated loan entered into during July 2005.  (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.  ​