African Reserves Loans

Information Note on the Official Gold and Foreign Exchange Reserves of the Reserve Bank of South Africa as of May 31, 2021



PO Box 427 Pretoria 0001 South Africa 370 Helen Joseph Street Pretoria 0002 +27 12 313 3911/0861 12 7272 www.resbank.co.za

Financial Markets Department

Ref. n °: 16/6/2/7/1

Information Note on the Official Gold and Foreign Exchange Reserves of the Reserve Bank of South Africa as of May 31, 2021

This notice provides details of the US dollar equivalent of the level of official gold and foreign exchange reserves of the South African Reserve Bank (SARB), Special Drawing Rights (SDRs) and foreign currency deposits received from clients published today in the statement of assets of the SARB and Liabilities as of May 31, 2021.

May 31, 2021

April 30, 2021

Switch(1)

(millions of US dollars)

(millions of US dollars)

(millions of US dollars)

Gold reserves

7 674

7,134

540

holdings in SDRs

2,588

2,575

13

Foreign exchange reserves(2)

43 877

43 980

(103)

Gross reserves

54,139

53,689

450

Foreign currency deposits received(3)

(6,152)

(6,180)

28

Front position(4)

4,253

3 995

258

International liquidity position

52,240

51 504

736

Exchange rate

% change

EUR / USD

1.2194

1.2083

0.92

GBP / USD

1.4182

1.3914

1.93

US $ / ZAR

13.7700

14.3876

(4.29)

SDR / USD

1.4434

1.4360

0.52

US $ / CNY

6.3716

6.4672

(1.48)

Gold price

% change

Market (US $)

1 904.33

1,770.29

7.57

Statutory (ZAR)

26,222.62

25,470.22

2.95

  1. Figures may not add due to rounding.
  2. Foreign exchange reserves include foreign currency deposits received (FDR).
  3. FDR balances include foreign loans and foreign currency purchases by the National Treasury (NT), both through outright purchases and currency swaps.
  4. The forward position mainly reflects on-going forward foreign exchange transactions. These include currency swaps to sterilize currency purchases and liquidity management swaps.
  5. Sterilization currency swaps refer to swaps performed to sterilize purchases of foreign currency from foreign direct investment and other foreign currency inflows, such as international financial institutions (IFIs).
  6. Liquidity management swaps are foreign exchange swaps entered into in the ordinary course of business to manage money market liquidity.

The increase in gross reserves and international liquidity position is mainly due to the increase in the price of gold in US dollars, valuation adjustments due to fluctuations in asset and currency prices and foreign exchange swaps that have arisen. maturities entered into for sterilization and liquidity management purposes. The increase in the forward portfolio largely reflects liquidity injection swaps completed in April and maturing in May, offset by maturity swaps made for sterilization purposes. These factors were partially offset by foreign currency payments made on behalf of the government.

Warning

South African Reserve Bank published this content on June 07, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on 07 Jun 2021 06:06:01 AM UTC.



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