Information notice on the official gold and foreign exchange reserves of theSouth African Reserve Bank as at 31 January 2008 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 January 2008, 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 January 2008(‘million)As at31 December 2007(‘million)Change (‘million)Gold reserves (1)US$3 690US$3 354US$336Foreign exchange reservesUS$29 919US$29 625US$294Gross reservesUS$33 609US$32 979US$630Foreign loans-US$1 502-US$1 752US$250Forward position (2)     US$12    US$72-US$60International liquidity position(Net reserves)US$32 119US$31 299US$820Dollar/Rand exchange rateMarket gold price (1)Statutory gold price    R7.4300US$923.65R6 862.72  R6.8100US$839.65R5 718.02  At the end of January 2008 the official gross gold and foreign exchange reserves amounted to US$33,6 billion and the international liquidity position to US$32,1 billion. The increase in reserves reflects a combination of valuation adjustments and the normal foreign exchange operations conducted by the SARB. The improvement in the international liquidity position also reflects a prepayment of US$250 million of the 3-year tranche of the 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. ​