Reserve Bank of Australia Annual Report – 1980 Financial Statements Gold and Foreign Exchange

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 of June 1980 — $US600.72 per fine ounce (June 1979 — $US279.07 per fine ounce) converted to Australian dollars at the market rate of exchange applying on 30 June 1980.

Marketable securities are included at market values applying on 30 June 1980. 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 1980. Special drawing rights are converted to Australian dollars at the derived SDR/$A rate.