Reserve Bank of Australia Annual Report – 1979 Financial Statements Note 2 Gold and foreign exchange

This comprises gold, special drawing rights and foreign exchange holdings.

Gold is valued at the average London gold price for the month (June 1979—US$279.07 per fine ounce) converted to Australian dollars at the market rate of exchange applying on 30 June 1979.

Marketable securities are included at market values applying on 30 June 1979. Where applicable, values for other investments include accrued interest.

Foreign exchange holdings are converted to Australian dollars at rates of exchange applying on 30 June 1979. Special drawing rights are converted to Australian dollars at the derived SDR/$A rate.