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 31 December 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 December 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 December 2007(‘million)As at30 November 2007(‘million)Change (‘million)Gold reserves (1)US$3 354US$3 176US$178Foreign exchange reservesUS$29 625US$29 174US$451Gross reservesUS$32 979US$32 350US$629Foreign loans-US$1 752-US$1 744US$8Forward position (2)US$72US$63US$9International liquidity position(Net reserves)US$31 299US$30 669US$630Dollar/Rand exchange rateMarket gold price (1)Statutory gold priceR6.8100US$839.65R5 718.02R6.7450US$795.15R5 363.29 At the end of December 2007 the official gross gold and foreign exchange reserves amounted to US$33 billion and the international liquidity position to US$31,3 billion. The increase in reserves reflects a combination of valuation adjustments and the normal foreign exchange operations conducted by the SARB. (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.