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 31 July 2009 This notice provides detail of the US dollar equivalent of the level of the South African Reserve Bank’s official gold and foreign exchange reserves, foreign deposits received from customers and the level of outstanding foreign loans published today in the Bank’s Statement of Assets and Liabilities as at 31 July 2009. It also presents the level of foreign exchange forward and international liquidity positions as at the same date. As at31 July 2009(million)As at30 June 2009(million)Change (3) (million)Gold reserves (1)US$3 750US$3 774-US$24Foreign exchange reservesUS$31 997US$31 986US$11Gross reservesUS$35 747US$35 760-US$13Foreign loans-US$650-US$651US$0Foreign deposits received-US$426-US$535US$109Forward position (2)US$1US$0US$1International liquidity position(Net reserves)US$34 672US$34 574US$98EUR/US$ exchange rateGBP/US$ exchange rateUS$/ZAR exchange rateMarket gold price (1)Statutory gold priceUS$1.41165US$1.65160R7.8050US$934.50R7 293.773US$1.41295US$1.65930R7.6850US$940.50R7 227.743 The gross gold and foreign exchange reserves declined to US$35,7 billion at the end of July 2009, while the international liquidity position increased to US$34,7 billion. The change in gold and foreign exchange reserves reflects foreign exchange operations of the Bank and valuation adjustments. Foreign deposits received declined as a result of withdrawals by the Government to meet foreign exchange obligations. 1 Gold in US dollar terms is reflected at mid-market rates. For reporting purposes all foreign currency figures have been converted to US dollar at mid-market rates at month end.2 The forward position comprises unsettled foreign currency spot transactions.3 Figures might not add up due to rounding.