8
July
South African Reserves Little Changed as Gold Falls
8 July 2009 Bloomberg.com
South African gold and foreign currency reserves were little changed in June as the price of bullion fell, offsetting the effect of the central bank’s dollar purchases.
Gross reserves fell to $35.76 billion, after gaining 5.1 percent to $35.84 billion in May, the Pretoria-based South African Reserve Bank said on its Web site today. Net reserves rose to $34.57 billion from $34.5 billion.
South Africa’s gold reserves fell 3.3 percent to $3.77 billion, as the price of bullion declined to $940.50 an ounce from $973.10.
http://www.bloomberg.com/apps/news?pid=20601116&sid=aWl6P5o9Z6.A
