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7 Jun 2018

Belarus’ gold, forex reserves at $6.94bn

MINSK, 7 June (BelTA) – According to the preliminary data, Belarus’ gold and foreign exchange reserves totaled $6.94 billion as of 1 June 2018, BelTA learned from the Information and PR Department of the National Bank of the Republic of Belarus (NBRB).

According to the preliminary data, Belarus’ international reserve assets made up $6.939 billion as of 1 June.

In May 2018, the country’s gold and foreign exchange reserves went down by $98.5 million (1.4%), following April’s growth of $43.5 million (0.6%). The May decrease in Belarus’ international reserve assets was driven by the honoring of domestic and foreign commitments in foreign currency by the government and the National Bank worth around $331 million.

Belarus’ gold and foreign exchange reserves were bolstered thanks to the budget revenues, including export duties on oil and oil products and revenues from selling government bonds nominated in foreign currency by the central bank and the Finance Ministry, the purchase of foreign currency by the National Bank via the Belarusian Currency Stock Exchange.

According to the country’s main monetary guidelines for 2018 the volume of international reserve assets, taking into account the honoring of domestic and foreign commitments in foreign currency should reach at least $6 billion on 1 January 2019.

 

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