Statement on the Gold and Foreign Exchange Reserves of the Bank
Last Modified Date:
2020-10-08, 02:04 PM
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Information notice on the official gold and foreign exchange reserves of theSouth African Reserve Bank as at 28 February 2009 This notice provides details of the US dollar equivalent of the level of the South African 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 28_February_2009. It also presents the level of foreign exchange forward and international liquidity positions as at the same date. As at28 February 2009(million)As at31 January 2009(million)Change (million)Gold reserves (1)US$3 820US$3 696US$124Foreign exchange reservesUS$29 959US$30 038-US$79Gross reservesUS$33 779US$33 734US$45Foreign loans-US$643-US$639-US$4Forward position (2)US$15US$2US$13International liquidity position(Net reserves)US$33 151US$33 097US$54EUR/US$ exchange rateGBP/US$ exchange rateUS$/ZAR exchange rateMarket gold price (1)Statutory gold priceUS$1.2664US$1.4175R10.0500US$952.15R9 569.11US$1.2824US$1.4313R10.2000US$921.45R9 398.79 The official gross gold and foreign exchange reserves and the international liquidity position increased to US$33,8_billion and US$33,2_billion, respectively, at the end of February_2009. The change in the foreign reserves reflects the usual foreign exchange operations of the Bank and valuation adjustments. (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.