Posts Tagged ‘Gross’
Rand firms even as reserves approach $40 billion
September 15th, 2009
By Cees Bruggemans, Chief Economist FNB During August our gross foreign reserves jumped by $2bn to $38bn even as the Rand firmed through 7.70:$. Yet the reserve gain wasn’t due to SARB forex accumulation. Instead, the reserve gain was all bookkeeping, mainly getting SDR 1.4bn from the IMF (dishing out $250bn of new drawing rights to 186 countries in terms of decisions earlier this year to bolster global foreign reserves). There was also a minor revaluation in our gold holdings, with gold
Posted in forex reviews, forex trading | 
Tags: Accumulation, Bookkeeping, Chief Economist, Decisions, Drawing Rights, Fnb, forex trading, Gold Holdings, Gross, Rand Firms, Revaluation, Sdr 1 | 
No Comments »
