Statement on the Gold and Foreign Exchange Reserves of the Bank
Last Modified Date:
2020-10-08, 02:05 PM
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Information notice on the official gold and foreign exchange reserves of theSouth African Reserve Bank as at 30 June 2008 This notice provides detail of the US dollar equivalent of the level of the Reserve Bank’s official gold and foreign exchange reserves and the level of outstanding foreign loans published today in the Bank’s Statement of Assets and Liabilities as at 30 June 2008. It also presents the level of foreign exchange forward and international liquidity positions as at the same date. As at30 June 2008(million)As at31 May 2008(million)Change (million)Gold reserves 1)US$3 717US$3 540US$177Foreign exchange reservesUS$31 137US$30 868US$269Gross reservesUS$34 854US$34 408US$446Foreign loans-US$1 144-US$1 141-US$3Forward position 2)US$52-US$37US$89International liquidity position(Net reserves)US$33 762US$33 230US$532EUR/US$ exchange rateGBP/US$ exchange rateUS$/ZAR exchange rateMarket gold price 1)Statutory gold priceUS$1.5757US$1.9935R7.81500US$929.80R7 266.39US$1.5498US$1.9720R7.6100US$885.65R6 739.80 The official gross gold and foreign exchange reserves and the international liquidity position increased to US$34,9 billion and US$33,8 billion, respectively, at the end of June 2008. The change in the foreign exchange reserves reflects the usual foreign exchange operations of the Reserve Bank as well as valuation adjustments which were more pronounced in June 2008 than in May 2008. 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 comprises unsettled foreign currency spot transactions.